CoinMarketCap Targeted in Malicious Wallet Draining Attack: What You Need to Know

CoinMarketCap Targeted in Malicious Wallet Draining Attack: What You Need to Know

Even the most trusted platforms can be vulnerable. On June 22, CoinMarketCap, a leading crypto data aggregator used by millions worldwide, fell victim to a malicious supply-chain attack that briefly compromised its homepage.

The Attack: Fake Wallet Verification Pop-Up

The attackers injected a malicious Web3 pop-up into the homepage via third-party code. The pop-up appeared to be a wallet verification prompt, luring users into connecting their MetaMask, Phantom, or other Web3 wallets. Once connected, users were asked to approve ERC‑20 token permissions, unknowingly granting access to their assets.

This deceptive interface mimicked legitimate wallet verification behavior, increasing its likelihood of success.

Quick Response by Wallet Providers and CoinMarketCap

As soon as the attack became visible to users, MetaMask and Phantom flagged CoinMarketCap’s site as “unsafe”, temporarily blocking interactions and issuing urgent warnings.

CoinMarketCap's security team acted within hours, quickly identifying and removing the infected script. The vulnerability was traced back to a third-party doodle image that triggered a malicious API response, demonstrating the dangers of loosely monitored supply chains in modern web platforms.

Estimated Losses and Ongoing Investigation

So far, approximately 110 users lost an estimated $43,000 worth of tokens, based on early reports. However, the total financial damage may rise as forensic audits and user reports continue to come in.

CoinMarketCap has not reported any core infrastructure breach—only a frontend-level compromise affecting the browser session.

What This Means for Users

This incident highlights a growing threat in Web3: wallet-draining phishing attacks disguised as legitimate wallet prompts. As users become more crypto-savvy, attackers are shifting to smarter, less detectable social engineering tactics.

Security Tips for Crypto Users:

• Never approve wallet permissions from unexpected pop-ups.

• Double-check URLs before interacting with Web3 interfaces.

• Use browser wallet warnings like those from MetaMask and Phantom.

• Bookmark trusted platforms and avoid navigating via search engines or third-party links.

Why This Matters

• Trusted platforms are not immune to exploits.

• The supply chain of third-party scripts is a rising vector for cyberattacks.

• The need for wallet interaction hygiene is more urgent than ever in the crypto community.

Conclusion (LinkedIn-Ready):

Even industry giants like CoinMarketCap can fall victim to supply-chain vulnerabilities. This incident is a stark reminder: in Web3, security is personal. Always be skeptical of pop-ups, approve permissions with caution, and let wallet warnings guide you. In the decentralized world, your vigilance is your firewall.