Edgen Crypto·Nov 27 2025, 10:05
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Nov 27 2025, 14:23
Malicious Chrome Extension Targets Solana Users via Hidden Transaction Fees
## Executive Summary A malicious Google Chrome extension, marketed as **Crypto Copilot**, has been identified as the source of a sophisticated theft campaign targeting **Solana** ecosystem participants. The extension, which claims to facilitate instant trading from social media feeds, secretly injects an additional transfer instruction into user-initiated swaps on the **Raydium** decentralized exchange. This unauthorized action siphons a percentage of the transaction value to a wallet controlled by the attacker. The scheme was uncovered by the threat research team at cybersecurity firm **Socket**, highlighting a significant security risk for traders utilizing browser-based tools for DeFi activities. ## The Event in Detail The **Crypto Copilot** extension, published to the Chrome Web Store on June 18, 2024, operates by manipulating on-chain transactions at the point of user approval. While users see a standard interface for executing a swap on **Raydium**, the extension’s underlying code modifies the transaction data. Specifically, it appends an extra instruction that transfers a portion of the user's assets to a hardcoded attacker address. The financial impact per transaction is designed to be subtle, amounting to a minimum of **0.0013 SOL** or **0.05%** of the total trade value, whichever is greater. This low-and-slow approach is intended to avoid immediate detection by the user. The attack vector is particularly deceptive as it does not require compromising a user's private keys directly; rather, it leverages the permissions granted to the browser extension to alter the transactions it processes. ## Market Implications This incident carries negative implications for the **Solana** ecosystem and the broader DeFi space. It erodes user trust, not in the underlying blockchain protocol itself, but in the third-party applications that form the user-facing layer of the ecosystem. Decentralized exchanges like **Raydium** may see a decline in user confidence, as traders become more wary of the tools they use to interact with the platform. The discovery may compel users to adopt more stringent security practices, such as scrutinizing the permissions granted to browser extensions and using dedicated, secure environments for executing transactions. For the market, it serves as a reminder that transaction security is a multi-layered problem extending beyond the blockchain to include wallets, interfaces, and third-party software. Failure to address these vulnerabilities could inhibit mainstream adoption by raising the perceived risk of engaging with DeFi protocols. ## Expert Commentary The security breach was first identified and detailed by **Socket’s Threat Research Team**. According to their findings, the extension was explicitly designed to prey on **Solana** traders. > "Behind the interface, the extension injects an extra transfer into every Solana swap, siphoning a minimum of 0.0013 SOL or 0.05% of the trade amount to a hardcoded attacker-controlled wallet," stated a report from Socket's researchers. Their analysis confirmed that the extension successfully manipulated swap transactions on **Raydium**, a popular automated market maker (AMM) on **Solana**, by exploiting the trust users place in such trading tools. ## Broader Context This attack is emblematic of a growing class of security threats in Web3 that target user-facing applications rather than the core infrastructure. Unlike large-scale protocol exploits, these attacks focus on compromising individual users through deceptive means, a tactic sometimes referred to as "transaction poisoning." The use of a browser extension as a vector is a common strategy, as they often require broad permissions to function, creating a potential gateway for malicious code. This event underscores the critical need for comprehensive security audits and user education regarding the risks associated with browser-based crypto management tools. It reinforces the principle that every component in a decentralized system, from the user interface to the smart contract, is a potential point of failure.
Nov 27 2025, 14:05
Solana ETFs End Perfect Inflow Streak with $8.1M Daily Outflow as XRP ETFs Continue to Gain
## Executive Summary Spot Solana exchange-traded funds (ETFs) registered their first single-day net outflow on November 26, concluding a notable streak of positive capital inflows that had persisted for nearly three weeks. The $8.1 million outflow contrasts sharply with the performance of XRP-backed ETFs, which have maintained a perfect record of daily inflows, accumulating over $643 million since their inception. This divergence signals a potential shift in investor positioning, with some market participants taking profits on Solana products while others allocate fresh capital to the newly available XRP investment vehicles. ## The Event in Detail According to data from SoSoValue, U.S. spot **Solana** ETFs experienced a net outflow of **$8.10 million** on November 26, marking the end of a 19-day streak of uninterrupted inflows. During this period, these funds had attracted approximately $476 million, contributing to a total asset base of around $2 billion. The reversal, while modest in the context of total assets, represents the first instance of negative daily sentiment for the products since their recent surge in popularity. In direct opposition to this trend, **XRP** ETFs have demonstrated robust and consistent demand. The products have not recorded a single day of outflows since their launch, with cumulative net inflows reaching **$643 million**. On one recent trading day alone, XRP ETFs attracted $164.04 million. The successful debuts of new products, such as Grayscale’s **GXRP** and Franklin Templeton's **XRPZ**, which recorded first-day inflows of $67.4 million and $62.6 million respectively, have bolstered this trend, outperforming Bitcoin and Ethereum ETFs on the same day. ## Market Implications The opposing fund flows between **Solana** and **XRP** ETFs suggest a nuanced and increasingly sophisticated market for regulated crypto products. The outflow from Solana funds may be interpreted as short-term profit-taking by early investors following a significant run-up, rather than a fundamental shift in sentiment. Given the substantial inflows preceding this event, the $8.1 million outflow is a relatively minor correction. Conversely, the strong and sustained inflows into **XRP** ETFs highlight pent-up institutional and retail demand for exposure to the asset. The performance indicates that investors are differentiating between altcoins and making strategic allocations based on perceived value and growth potential. The market appears to be in a phase of asset rotation, where capital moves between different digital assets rather than exiting the ecosystem entirely. This is further evidenced by mixed flows in the largest crypto ETFs during the same period, with **Bitcoin** products seeing outflows while **Ethereum** products attracted capital. ## Broader Context This development underscores the maturation of the crypto investment landscape, which is expanding beyond its traditional concentration on **Bitcoin**. The existence of diverse, single-asset ETFs allows investors to express more targeted views on specific blockchain ecosystems. The steady demand for **XRP** ETFs, in particular, signals that the market has largely moved past the asset's historical regulatory challenges in the U.S., focusing instead on its utility and future prospects. The Solana outflow serves as a practical reminder of the dynamic nature of ETF capital flows. These instruments are used for both long-term strategic holdings and short-term tactical trades. As the market for crypto ETFs grows, analysts will continue to monitor daily flow data for insights into shifting investor sentiment, profit-taking cycles, and the allocation preferences of institutional capital.
Nov 27 2025, 13:52
Visa Partners with Aquanow to Expand USDC Stablecoin Settlement in CEMEA Region
## Executive Summary **Visa** has announced a strategic partnership with digital asset infrastructure provider **Aquanow** to expand its stablecoin settlement capabilities. The collaboration is focused on the Central and Eastern Europe, Middle East, and Africa (CEMEA) region and will leverage the **USD Coin (USDC)** stablecoin to modernize payment rails for **Visa's** network of issuers and acquirers, signaling a significant move by the payments giant to integrate blockchain technology into its core operations. ## The Event in Detail The partnership involves integrating **Aquanow's** digital asset platform directly with **Visa's** existing technology stack. This allows financial institutions and merchants within **Visa's** CEMEA network to use **USDC** as a settlement asset for cross-border transactions. The stated goal is to create a more efficient alternative to traditional payment systems, which often rely on a complex and layered network of correspondent banks. ## Financial Mechanics The core of this initiative is the use of **USDC**, a regulated stablecoin pegged 1:1 to the U.S. dollar, as a bridge currency. By settling transactions on-chain with **USDC**, **Visa** and its partners can bypass many of the conventional steps that introduce delays and costs, such as nostro/vostro account reconciliations and operating within limited banking hours. The collaboration equips **Visa's** partners with the necessary infrastructure to manage digital currency settlements, effectively modernizing the back-end rails of money movement. ## Market Implications This partnership represents a major validation for the use of stablecoins in institutional finance. By incorporating **USDC** into its settlement flows, **Visa** lends its considerable weight to the argument that digital currencies can enhance, rather than replace, existing financial infrastructure. For the CEMEA region, this could lead to more accessible and lower-cost international trade and remittances. The move is expected to increase institutional demand for regulated stablecoins and put competitive pressure on traditional cross-border payment providers to innovate. ## Expert Commentary In a statement regarding the partnership, **Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa**, articulated the company's strategy: > "By harnessing the power of stablecoins and pairing them with our trusted global technology, we are enabling financial institutions in CEMEA to experience faster and simpler settlements. Our partnership with Aquanow is another key step in modernizing the back-end rails of payments, reducing reliance on traditional systems with multiple intermediaries, and preparing institutions for the future of money movement." ## Broader Context **Visa's** initiative is not occurring in a vacuum. It is part of a wider industry trend where major financial technology firms are embracing stablecoins to overhaul cross-border payments. For instance, financial software company **Finastra** has partnered with **Circle**, the issuer of **USDC**, to integrate the stablecoin into banks' payment flows. Similarly, global payments network **Thunes** has adopted **USDC** to offer "always-on" settlement services in response to growing customer demand for reputable digital assets. These parallel developments underscore a systemic shift toward leveraging blockchain-based assets for faster, more efficient, and globalized financial operations.