Russian Malware Campaign Adds Downward Pressure to Internet Computer's ICP Token

Internet Computer Protocol (ICP) is trading at $4.8373, down 5.18% in the past 24 hours, while the broader crypto market as gauged by the CoinDesk 20 Index dropped only half as much.

ICP faced renewed selling pressure as geopolitical risks and cybersecurity threats rattled digital asset markets. The decline comes amid troubling findings from cybersecurity firm Koi Security, which uncovered a network of malicious browser extensions targeting cryptocurrency users.

The report identified more than 40 fake Firefox add-ons designed to mimic popular wallets like MetaMask and Coinbase. These extensions, some of which remain live in browser stores, are believed to have stolen sensitive credentials from unsuspecting users since at least April 2025.

Technical metadata and language artifacts in the attack infrastructure point to Russian-speaking actors, according to Koi. These findings added a new layer of concern for crypto investors already navigating macroeconomic uncertainty and fragmented global regulation.

ICP’s price reaction was swift, with the token falling through key support at $5.00, according to CoinDesk Research's technical analysis model. The bearish move was amplified by increased trading volumes during key selloffs at 12:00 and 20:00 UTC on July 3. The coin’s vulnerability to broader risk sentiment was on full display, as the cyber threat narrative intersected with elevated volatility to push prices sharply lower.

The fake wallet attack — by exploiting the same trust layer users depend on to store digital assets — has heightened awareness around security risks in decentralized ecosystems. For projects like Internet Computer, which promote on-chain infrastructure and self-custody, the reputational risk from these types of exploits can weigh heavily on investor sentiment even when not directly tied to the protocol itself.

Technical Analysis Highlights

All times cited are UTC.

• ICP-USD declined 4.3% to $4.8373 between July 3 07:00 and July 4 06:00.
• Price action formed a descending channel, with resistance near $5.13 and a decisive breakdown below $5.00.
• Sharp selloffs occurred at 12:00 and 20:00 on July 3, accompanied by above-average volume.
• The token’s overall range was $0.26 (5.1%), underscoring heightened volatility.
• A 1.17% drop occurred between 05:52 and 06:51 on July 4, with the price dipping below $4.90.
• Temporary support emerged at $4.88 around 06:30, followed by a mild recovery stalling at $4.89.
• Volume exceeded 94,000 units during the 06:27–06:30 window, likely driven by institutional activity.
• Final minutes showed consolidation, with low volatility suggesting possible range-bound action ahead.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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