Malicious actors are attempting to steal crypto with malware embedded in fake Microsoft Office extensions uploaded to the software hosting site SourceForge, according to cybersecurity firm Kaspersky.

One of the malicious listings, called “officepackage,” has real Microsoft Office add-ins but hides a malware called ClipBanker that replaces a copied crypto wallet address on a computer’s clipboard with the attacker’s address, Kaspersky’s Anti-Malware Research Team said in an April 8 report.

“Users of crypto wallets typically copy addresses instead of typing them. If the device is infected with ClipBanker, the victim’s money will end up somewhere entirely unexpected,” the team said.

The fake project’s page on SourceForge mimics a legitimate developer tool page, showing the office add-ins and download buttons and can also appear in search results.

Kaspersky said it found a crypto-stealing malware on the software hosting website SourceForge. Source: Kaspersky

Kaspersky said another feature of the malware’s infection chain involves sending infected device information such as IP addresses, country and usernames to the hackers through Telegram.

The malware can also scan the infected system for signs it’s already been installed previously or for antivirus software and delete itself.

Attackers could sell system access to others

Kaspersky says some of the files in the bogus download are small, which raises “red flags, as office applications are never that small, even when compressed.” 

Other files are padded out with junk to convince users they are looking at a genuine software installer.

The firm said attackers secure access to an infected system “through multiple methods, including unconventional ones.”

“While the attack primarily targets cryptocurrency by deploying a miner and ClipBanker, the attackers could sell system access to more dangerous actors.” 

The interface is in Russian, which Kaspersky speculates could mean it targets Russian-speaking users.

“Our telemetry indicates that 90% of potential victims are in Russia, where 4,604 users encountered the scheme between early January and late March,” the report stated.

To avoid falling victim, Kaspersky recommended only downloading software from trusted sources as pirated programs and alternative download options carry higher risks.

Related: Hackers are selling counterfeit phones with crypto-stealing malware

“Distributing malware disguised as pirated software is anything but new,” the company said. “As users seek ways to download applications outside official sources, attackers offer their own. They keep looking for new ways to make their websites look legit.”

Other firms have also been raising the alarm over new forms of malware targeting crypto users. 

Threat Fabric said in a March 28 report it found a new family of malware that can launch a fake overlay to trick Android users into providing their crypto seed phrases as it takes over the device.

Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5

The Trump administration’s sweeping tariffs could collapse US demand for Bitcoin mining rigs, which would benefit mining operations outside the country as manufacturers will look outside the US to sell their surplus inventory for cheaper, says Hashlabs Mining CEO Jaran Mellerud.

“As machine prices rise in the U.S., they could paradoxically decrease in the rest of the world,” Mellerud said in an April 8 report. “The demand for shipping machines to the U.S. is set to plummet, likely nearing zero.”

“Manufacturers will be left with excess stock originally intended for the US market. To offload this surplus, they’ll likely need to lower prices to attract buyers in other regions,” he added.

Falling mining rig prices could see non-US mining operations scale up and take a larger slice of Bitcoin’s total hashrate, Mellerud said.

Source: Jaran Mellerud

US President Donald Trump unveiled his administration’s “reciprocal tariffs” on nearly every country on April 2. Some of the largest crypto mining machine makers are based in countries hardest hit by the tariffs, including Thailand, Indonesia and Malaysia, which saw tariffs of 36%, 32% and 24%, respectively.

Crypto mining rig makers Bitmain, MicroBT and Canaan moved to some of these countries to circumvent a 25% tariff that Trump imposed on China in 2018 during his last administration.

Annual change in US tariffs on China, Indonesia, Malaysia and Thailand since 2017. Source: Hashlabs Mining

Mellerud noted that Trump’s latest tariffs would mean a mining rig that initially costs $1,000 would be priced at $1,240 in the US.

“Meanwhile, in Finland and most other countries, there are no tariffs, so the cost of a $1,000 machine remains unchanged.”

“In an industry as cost-sensitive as Bitcoin mining, a 22% price increase on machines can make operations financially unsustainable,” he added.

No coming back from Trump’s tariffs — ‘Damage is done’

Mellerud believes a future reversal of the Trump administration’s tariffs wouldn’t restore US crypto mining operators’ confidence.

“Even if these tariffs are rolled back within a few months, the damage is done — confidence in long-term planning has been shaken,” Mellerud said. “Few will feel comfortable making major investments when critical variables can change overnight.”

He said US miners felt reassured when Trump returned to the White House, expecting a more stable regulatory environment. 

Related: Bitcoin hashrate tops 1 Zetahash in historic first, trackers show

“But they are now experiencing the flip side of his unpredictable policy shifts,” Mellerud said.

The US accounts for nearly 40% of the network’s hashrate. Mellerud said there’s no reason for US miners to unplug their machines and doesn’t expect the total Bitcoin hashrate coming from the US to drop.

However, the path to expansion is now “steep and uncertain,” he said, and as a result, the US could lose a considerable share of hashrate. 

Trump’s tariffs have shaken up almost every market, including the crypto markets and Bitcoin (BTC), which is down 4% over the last 24 hours to $76,470, CoinGecko data shows.

Bitcoin is now 30% off the $108,786 all-time high it set on Jan. 20 — the same day that Trump re-entered the White House.

Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Crypto and equities traders were hopeful for a last-minute solution that would prevent the US from enacting 104% tariffs on Chinese goods entering the United States, but in a press conference, the White House confirmed that the tariffs would start on April 9. Markets deteriorated when Peter Navarro, trade adviser to US President Donald Trump, stated that tariffs were “not a negotiation.”

As a result, the S&P 500 index closed on April 8 with a 1.6% loss, reversing earlier gains of 4%. This downturn has left traders wondering whether Bitcoin (BTC) can regain its bullish momentum amid worsening macroeconomic conditions.

Spiraling US debt issues remain, paving the way for Bitcoin gains

Between April 2 and April 7, the S&P 500 index dropped by 14.7%, causing panic among Bitcoin holders and forcing a retest of the $75,000 level—the lowest in more than five months.

S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph

During an appearance with Israeli Prime Minister Benjamin Netanyahu on April 7, President Trump reportedly said his goal was to “reset the table” on trade. He added that “there can be permanent tariffs, and there could also be negotiations because there are things that we need beyond tariffs.” Amid this uncertainty, IPOs and mergers have been delayed, while leveraged loan deals and bond sales were sidelined, according to Yahoo Finance.

It becomes clear that the stock market is likely to rally if trade war risks subside. Economists have cautioned that tariffs could trigger inflation and significantly raise the chances of an economic recession, according to Reuters. However, assessing the impact on Bitcoin’s price remains a challenging task. This is because some investors see the cryptocurrency’s fixed monetary system as a safeguard against the continuous expansion of global fiat currency supplies.

Short-term correlations hurt BTC, but possible interest rate cuts could turn the tide

In the short term, the positive correlation between Bitcoin and the stock market is expected to persist. Nonetheless, the US government’s fiscal challenges present a potential opportunity for Bitcoin’s price to grow. On April 8, the US 10-year Treasury yield rose to 4.28%, following a brief dip to 3.90% on April 7. This increase suggests that investors are demanding higher returns to hold these assets.

US Dollar Index (DXY, left) vs. US 10-year Treasury yield (right). Source: TradingView / Cointelegraph

The rising cost of rolling over the $9 trillion in federal government debt set to mature within the next 12 months is expected to increase fiscal imbalance and weaken the US dollar. The US Dollar Index (DXY) has diverged from US Treasury yields, falling to 103.0 on April 8 from 104.2 on March 31. This situation could potentially support Bitcoin’s price—a sentiment shared by BlackRock CEO Larry Fink in his March 31 letter to investors.

Related: Weaker yuan is ‘bullish for BTC’ as Chinese capital flocks to crypto — Bybit CEO

Michael Gapen, Morgan Stanley’s chief US economist, stated in a client note on April 8: “We think the right answer is for the Fed to wait in its current stance for longer,” as reported by CNBC. According to Morgan Stanley’s updated forecast, the US Federal Reserve is expected to maintain interest rates at 4.25%-4.50% until March 2026, adding that “only a recession would change the calculus” and “a recession could mean earlier and larger up-front cuts.”

Bitcoin’s momentum is likely to turn positive as traders realize that the US Federal Reserve has limited tools to avoid a recession without risking inflation. While predicting the exact timing of a breakout remains uncertain, prolonged delays in resolving trade war issues could drive investors toward scarce assets like Bitcoin, especially amid fears of potential US dollar devaluation.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.