Concerns over Internet Computer’s ICP token intensified as a cybersecurity report linked a series of fraudulent crypto wallet browser extensions to Russian-speaking hackers. This revelation pushed ICP below the critical $5 support level.
Currently, ICP trades around $4.84, down more than 5% in the past 24 hours, a sharper decline compared to the broader crypto market, which dropped roughly half as much, as tracked by the CoinDesk 20 Index.
Cybersecurity firm Koi Security uncovered a network of over 40 fake Firefox extensions impersonating popular wallets like MetaMask and Coinbase. Many of these malicious extensions remain available in browser stores and have been stealing user credentials since at least April 2025.
Analysis of linguistic patterns and technical aspects suggests the attackers are Russian-speaking, raising alarm amid ongoing geopolitical tensions and regulatory uncertainty in the crypto space.
Following the disclosures, ICP’s price fell decisively below $5, with CoinDesk Research noting a descending price channel and two significant sell-offs at 12:00 and 20:00 UTC on July 3, accompanied by increased trading volume.
This malicious scheme exploits users’ trust in wallet extensions, highlighting security vulnerabilities in decentralized ecosystems. For Internet Computer, which relies heavily on on-chain infrastructure and user self-custody, such attacks pose reputational risks that can dampen market sentiment, even if the protocol itself isn’t compromised.
Technical Highlights (All times UTC):
- ICP closed 4.3% lower at $4.84 between July 3 07:00 and July 4 06:00.
- The token formed a downward channel, breaking below the $5 support level with resistance near $5.13.
- Two major sell-offs took place at 12:00 and 20:00 on July 3, with volume spikes.
- The trading range for ICP was $0.26, a 5.1% volatility increase.
- From 05:52 to 06:51 on July 4, ICP fell 1.17% to below $4.90.
- A temporary support level held near $4.88 at 06:30, followed by a slight bounce to about $4.89.
- Trading volumes exceeded 94,000 units between 06:27 and 06:30, possibly indicating institutional interest.
- The final trading period saw low volatility and consolidation, suggesting a range-bound market phase.
