Microsoft has issued a warning about a new Trojan malware, StilachiRAT, which targets cryptocurrency wallet extensions on the Google Chrome browser. Discovered by Microsoft’s Incident Response team in November 2024, StilachiRAT is capable of stealing sensitive information, such as stored browser credentials, digital wallet data, clipboard content, and system details.
The malware affects 20 different crypto wallet extensions, including Bitget Wallet, Trust Wallet, TronLink, MetaMask, TokenPocket, BNB Chain Wallet, OKX Wallet, Sui Wallet, Braavos – Starknet Wallet, Coinbase Wallet, Leap Cosmos Wallet, Manta Wallet, Keplr, Phantom, Compass Wallet for Sei, Math Wallet, Fractal Wallet, Station Wallet, ConfluxPortal, and Plug. While the malware has not yet been widely distributed, it poses a serious threat due to its stealthy methods of operation.
What Users Should Do
If you use crypto wallet extensions on Google Chrome, it’s crucial to be cautious. Microsoft recommends checking your browser plugins, clearing your browser history, and running antivirus scans. Users should also avoid downloading any suspicious files and ensure they are taking the necessary steps to secure their wallets.
How StilachiRAT Works
StilachiRAT uses various techniques to avoid detection and persist within the target system. One of the malware’s components, WWStartupCtrl64.dll, is responsible for gathering sensitive information, such as credentials stored in browsers and crypto wallets, making it a serious threat for anyone using these wallet extensions.
Microsoft has not yet identified the creators or origin of StilachiRAT, but has shared the findings as part of its ongoing efforts to monitor and address emerging cyber threats.
Protection Measures
Microsoft is providing mitigation guidance to help reduce the impact of StilachiRAT. The malware can be delivered through various vectors, so it is important to implement security measures to prevent compromise.
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Robinhood Markets reported its first quarter (Q1) earnings on Wednesday, revealing commendable growth over the past several months.
The development adds to Robinhood’s list of bullish developments this year after the US SEC (Securities and Exchange Commission) dropped its probe against the online brokerage platform.
Robinhood Records 100% Q1 Crypto Revenue Growth
Robinhood Markets reported its Q1 earnings on Wednesday, April 30, detailing its financial results for the first quarter of 2025. The platform’s CEO and co-founder, Vlad Tenev, and CFO Jason Warnick led the broadcast, which was shared on X (Twitter) and YouTube.
While Tenev and Warnick had much to say about the brokerage platform’s performance in Q1 2025, the highlight was its crypto revenue between January and April.
Reportedly, crypto revenues doubled to $252 million, marking a 100% increase year-over-year (YoY). In the same tone, crypto trading volumes hit $46 billion, up by 28% YoY.
These are notable feats given fierce competition from centralized exchanges like Binance and Coinbase.
“We began the year strong with 50% YoY revenue growth and 106% EPS growth, alongside disciplined expense management. We’re also returning capital aggressively with expanded share repurchases, signaling confidence in our long-term growth,” said Warnick.
Perhaps the recent move by the US SEC to drop its probe into Robinhood exacerbated the financial traction. Despite its May 2024 Wells Notice against the platform, the securities regulator concluded the investigation without penalties.
Robinhood Shares Strategic and Operational Highlights
Beyond financial traction, Robinhood’s Q1 earnings revealed accelerated product innovation on different paradigms, including Robinhood Strategies, Banking, and Cortex. According to Tenev, customers warmed up to the platform’s offerings, adding credence to the platform’s notable Q1 revenues.
“…customers responded with record-breaking net deposits, Gold subscriptions, and trading volume across all asset classes,” Tenev stated.
Among the innovations presented, comprising strategic and operational highlights, is a Bitstamp acquisition in the pipeline, expected to close mid-2025. BeInCrypto recently reported details of the acquisition, citing a $200 million deal.
The acquisition comes as Robinhood looks to enhance its crypto services. Bitstamp brings over 50 active licenses and registrations worldwide. With this, Robinhood will integrate a reputable institutional business into its ecosystem.
Beyond the Bitstamp acquisition, Robinhood is also working on global expansion into the UK and EU, positioning itself as a fierce competitor in the crypto space.
Robinhood is also innovating with prediction markets like Kalshi and advanced trader tools, tapping into the growing demand for diverse crypto offerings. Its prediction market has reportedly traded over 1 billion event contracts in six months.
With 25.8 million funded customers and $221 billion in platform assets, Robinhood is becoming a go-to financial hub for crypto-savvy users.
Despite the bullish developments, Robinhood’s HOOD token has only increased by a modest 1% in the last 24 hours. As of this writing, it traded for $0.00003370 on the MEXC exchange against the USDT stablecoin.
There has been a sharp decline in daily active addresses across Smart Contract Platforms (SCPs) in recent months, raising concerns among investors and developers.
Meanwhile, Ethereum’s Pectra Upgrade could be the turning point, with crypto analyst Jamie Coutts calling the current state a cleansing of the ecosystem.
SCPs See Sharp Decline in Active Users
Jamie Coutts, who built Bloomberg Intelligence’s crypto research product, says this is the worst decline ever recorded in the history of SCPs.
He also notes that it is far worse than the 2022-2023 bear market, with daily active addresses dropping 40.5% in just five months.
“This is the largest usage collapse in SCP history,” wrote Coutts.
Coutts’ analysis provides a deeper look at the broader crypto ecosystem, which is simultaneously witnessing an uptick in global liquidity and an all-time high in stablecoin market cap.
While the sector seems to be experiencing a shakeout, Coutts says this decline does not indicate the death of smart contract platforms. Rather, it is a necessary cleansing of the ecosystem.
The analyst attributes the drop in daily active addresses to several key factors, including the rise of artificial activity.
“Much of the past cycle’s growth was artificial: Usage inflated by bots and Sybil farms, Incentive programs created temporary traction without stickiness. The unwind reflects a cleansing of fake activity, not the death of the sector,” Coutts explains.
The rise of bots and Sybil attacks, where bad actors create multiple fake identities to manipulate a platform’s usage metrics, has artificially inflated the activity numbers across various smart contract platforms.
Now, as these fake users are being weeded out, the real growth potential of SCPs is becoming clearer.
Moreover, this trend suggests that SCPs with weak application ecosystems or limited use cases will face significant valuation compression. This is especially true without stablecoin integration or real-world asset (RWA) applications.
Coutts notes that many SCP tokens risk valuation compression if their platforms do not offer high throughput, low-cost, and real settlement capabilities.
The market will likely reward mature platforms capable of supporting real economic activity. These include stablecoin transactions, payments, and AI-native applications.
“…going forward, value will concentrate in platforms that enable high-throughput, low-cost, real settlement and agentic automation,” he added.
Ethereum Staking Surge Post-Pectra
Interestingly, these predictions align with the recent Ethereum Pectra upgrade, which went live on May 7, 2025.
The Pectra upgrade introduces key features that could help Ethereum, the largest smart contract platform, stay ahead in this playing field. Specifically, the upgrade improves Ethereum’s staking model and validator operations.
CryptoQuant recently indicated a notable spike in ETH staking around the Pectra Upgrade news. Specifically, before the Pectra upgrade news, ETH staking saw a net outflow of around 1.02 million ETH, reflecting uncertainty.
However, after the news, staking rebounded with a 627,000 ETH inflow, signaling renewed market confidence in the Ethereum staking ecosystem.
“Before Pectra News (Nov 16 – Feb 15): ETH staking dropped from ≈34.88M to 33.86M ETH, a net outflow of ~1.02M ETH. This period reflects market uncertainty and mild unwinding of staking positions ahead of the upgrade. After Pectra News (Feb 16 – May 16): Total ETH staked rose from 33.78M to 34.41M ETH — a net inflow of ~627K ETH. Indicates renewed confidence in the staking process following the upgrade,” wrote CryptoQuant analyst Kripto Mevsimi.
ETH Staking before and after Pectra Upgrade news. Source: CryptoQuant
In the same tone, Bohdan Opryshko, co-founder and COO at Everstake, told BeInCrypto that the Pectra upgrade may be Ethereum’s most institution-friendly update. He says the upgrade is the clearest signal that Ethereum is ready for conservative capital.
“For the first time, institutions can stake at scale with operational clarity and reduced complexity. It’s a green light for conservative capital to get involved in native Ethereum staking,” Opryshko told BeInCrypto.
Further, Pectra’s introduction of smart accounts allows Ethereum wallets to execute smart contract logic. This could drive stablecoin integration.
At the same time, it could enhance scalability. This would make Ethereum better suited to handle real economic activities such as payments and financial transactions.
Nevertheless, Coutts highlighted a divergence between price action and network activity, a common phenomenon in the crypto space. While markets stabilize, activity on many SCPs remains stagnant.
Coutts notes that this divergence will not last. More sophisticated capital will increasingly flow toward platforms that anchor real economic behavior, especially via stablecoin flows and payments.
“Markets may be stabilizing, but activity is not,” More sophisticated capital will increasingly rotate toward chains that anchor real economic behavior, especially via stablecoin flows, payments, and AI-native applications,” Coutts says.
Finally, Coutts predicts that a liquidity-driven rally will return, fueled by the significant liquidity expected to enter the system in the coming months.
However, he cautions that the value will likely accrue to a subset of SCPs that can deliver tangible value through real-world applications and stablecoin integration. This sentiment aligns with the structural upgrades brought by Ethereum’s Pectra fork.
