Cybercriminals have found a new attack vector, targeting users of Atomic and Exodus wallets through open-source software repositories.
The latest wave of exploits involves distributing malware-laced packages to compromise private keys and drain digital assets.
How Hackers are Targeting Atomic and Exodus Wallets
ReversingLabs, a cybersecurity firm, has uncovered a malicious campaign where attackers compromised Node Package Manager (NPM) libraries.
These libraries, often disguised as legitimate tools like PDF-to-Office converters, carry hidden malware. Once installed, the malicious code executes a multi-phase attack.
First, the software scans the infected device for crypto wallets. Then, it injects harmful code into the system. This includes a clipboard hijacker that silently alters wallet addresses during transactions, rerouting funds to wallets controlled by the attackers.
Malicious Code Targeting Atomic and Exodus Wallets. Source: ReversingLabs
Moreover, the malware also collects system details and monitors how successfully it infiltrated each target. This intelligence allows threat actors to improve their methods and scale future attacks more effectively.
Meanwhile, ReversingLabs also noted that the malware maintains persistence. Even if the deceptive package, such as pdf-to-office, is deleted, remnants of the malicious code remain active.
To fully cleanse a system, users must uninstall affected crypto wallet software and reinstall from verified sources.
Indeed, security experts noted that the scope of the threat highlights the growing software supply chain risks threatening the industry.
“The frequency and sophistication of software supply chain attacks that target the cryptocurrency industry are also a warning sign of what’s to come in other industries. And they’re more evidence of the need for organizations to improve their ability to monitor for software supply chain threats and attacks,” ReversingLabs stated.
These infected files included clipboard hijackers and crypto miners, posing as legitimate software but operating silently in the background to compromise wallets.
The incidents highlight a surge in open-source abuse and present a disturbing trend of attackers increasingly hiding malware inside software packages developers trust.
Considering the prominence of these attacks, crypto users and developers are urged to remain vigilant, verify software sources, and implement strong security practices to mitigate growing threats.
Amid global economic volatility, the United States has again raised its debt ceiling to avert a default and ensure the government’s operations continue smoothly.
The US debt ceiling is a legal limit on the amount the federal government can borrow to meet its financial obligations, including pension payments, social welfare programs like Social Security and Medicare, and interest on government bonds.
US Debt Ceiling Increase
Raising the debt ceiling remains contentious, often sparking heated debates between Congress and the White House. Negotiations over spending and budgets are typically prolonged and complex.
According to data from the Senate Joint Economic Committee (JEC), the US national debt has surpassed $36.2 trillion as of April 2025. This marks a significant rise from $22 trillion in March 2019, highlighting the rapid escalation of national debt in recent years.
Historically, raising the debt ceiling is not uncommon. According to NPR, since 1960, Congress has acted 78 times to increase, temporarily extend, or revise the debt ceiling definition—49 times under Republican and 29 times under Democratic presidents. This reflects the recurring need to adjust the ceiling to maintain government functionality, but it also raises questions about the long-term sustainability of US fiscal policy.
Under President Donald Trump’s administration, bold economic policies are being implemented, including using tariff revenues to service debt. Trump has imposed a 125% tariff on Chinese goods, prompting retaliatory 84% tariffs from China on the US. imports.
Consequently, the Chinese yuan (CNY) has hit an 18-year low, with the USD/CNY rate reaching 7.394. The yuan’s depreciation escalates trade tensions and ripple effects across cryptocurrency markets.
Impact on Crypto
The increase in the US debt ceiling has multifaceted implications for the crypto market, both in the short and long term.
Raising the debt ceiling helps the US avoid default, preventing a potential global financial crisis. This often reassures investors, boosting confidence in traditional financial markets like stocks and US Treasury bonds. As a result, demand for safe-haven assets like Bitcoin—usually viewed as a hedge during economic uncertainty—may decline.
Historical trends support this. During past debt ceiling crises, such as in 2021, Bitcoin prices surged as investors feared a US default. However, the pressure eased once the ceiling was raised, prompting some investors to shift capital back to traditional assets. This can create downward price pressure on Bitcoin and other altcoins.
Additionally, a weaker yuan due to US policies could drive capital from China into cryptocurrencies, potentially providing a positive push for the market.
Continually raising the debt ceiling allows the US government to borrow more to fund spending, often leading to increased money printing or issuance of Treasury bonds. This process expands the money supply, fueling inflation and eroding the US dollar’s value.
Cryptocurrencies, particularly Bitcoin, are often regarded as an “inflation hedge” due to their fixed supply and decentralized nature. Investors increasingly turn to alternative assets to preserve wealth as the dollar weakens. Bitcoin, often dubbed “digital gold,” has proven its resilience during past economic instability.
The increase in the US debt ceiling has a complex impact on cryptocurrencies. In the short term, it may reduce demand for safe-haven assets like Bitcoin as confidence in traditional markets grows.
However, in the long term, persistent debt ceiling hikes could drive inflation and weaken the dollar, positioning cryptocurrencies as a compelling hedge and alternative asset class.
In previous years, trends in the TradFi market have caused risk-on assets like crypto to spike in Q2, especially in April. This could provide a much-needed bullish narrative for the space.
A report from QCP Capital looked at a few trends, such as the S&P 500’s performance, but Bitcoin’s price history over the last decade is the clearest market indicator.
However, this data is corroborated by a broad spectrum of crypto-native trends.
“One of the fastest US stock downturns in recent history may well be behind us—or so JPMorgan and a growing chorus of strategists are telling their clients. Q2, and April in particular, has historically been one of the best periods for risk assets,” QCP claimed via Telegram.
With how desperate the crypto market has been for a bullish narrative, this Q2 speculation comes as a breath of fresh air. QCP pointed to recurring trends in TradFi sectors like the S&P 500, and some of these are even more pronounced in crypto.
Case in point, the price of Bitcoin is a great bellwether. Bitcoin is highly linked with the broader crypto market, and it has frequently rallied in Q2, especially in April.
For example, in 2017, Bitcoin’s price hovered around $1,000 until it broke $2,000 in mid-May, prompting a bigger rally. In 2021, a gargantuan price spike culminated in April and briefly dropped in May.
Bitcoin Yearly Price Chart. Source: BeInCrypto
In 2024, Q2 was a significant bullish period for crypto. BTC climbed quickly after the approval of Bitcoin Spot ETFs in January, breaching $60,000 in late February and early March, setting a new all-time high by April.
At the same time, high-yield credit markets demonstrated a solid performance, with CC-rated bonds overperforming. This shows a healthy appetite for risk-on assets.
If Bitcoin reaches $119,000 by the end of August, MicroStrategy’s (now Strategy) third-quarter earnings could set a new record for a publicly traded company’s highest quarterly profit in financial history. This impressive figure would easily top Nvidia’s earnings and approach Apple’s record.
As Bitcoin gains widespread acceptance, it prompts the question of whether major players will adopt Strategy’s plan by the book. According to Brickken analyst Enmanuel Cardozo, it depends. Though Strategy’s current achievements are impressive, the quality of its long-term health comes into question.
Could MicroStrategy’s Bitcoin Gains Top Tech Giants?
Michael Saylor’s aggressive Bitcoin plan for Strategy (formerly MicroStrategy) continues to remain strong through sunshine or rain. For now, it shows no signs of slowing. With 592,100 Bitcoins on its balance sheet, Strategy is the biggest corporate holder worldwide.
As Bitcoin’s price continues to climb, so will Strategy’s overall earnings. This large-scale success has already led several publicly traded companies to follow suit. The question is whether other corporate giants will also take the leap and purchase Bitcoin.
If Bitcoin closes Q3 above $119,000, and Strategy has 592,100 bitcoins acquired at an average cost of $70,666 each, Strategy’s estimated quarterly net earnings would be approximately $28.59 billion.
Strategy’s most recent Bitcoin purchases. Source: Strategy.
This figure would exceed Nvidia’s highest reported quarterly net income of $22.091 billion, making it Strategy’s largest quarterly earnings and a significant outlier among many publicly traded tech companies.
Since Strategy uses fair value accounting for its Bitcoin, it directly reflects these gains in its net income. If Bitcoin’s price continues to rise beyond this level, Strategy’s earnings could potentially challenge Apple’s current record-setting quarterly net income of $36.33 billion.
Could this unprecedented success generate a fear of missing out among other competitors?
To Buy or Not to Buy
Cardozo expressed excitement over how such a scenario could generate further Bitcoin adoption by other corporate trailblazers.
“With [Strategy’s] 592,100 BTC holdings, other companies might feel the need to finally jump in, especially as Strategy’s performance is outpacing traditional metrics. That kind of success won’t go unnoticed and will eventually push their boards to at least explore Bitcoin to keep up,” he told BeInCrypto.
Some of Bitcoin’s advantages over assets may even appeal to companies with massive earnings, like Nvidia or Apple.
“There’s a solid case for tech giants like Apple and Nvidia to diversify into Bitcoin, and I’m loving the possibilities here. On the pro side, Bitcoin is built as a perfect hedge against fiat devaluation because of its limited supply and decentralized nature,” Cardozo added.
However, a playbook like Strategy’s comes with many risks, and it’s not a one-size-fits-all win—even for Strategy itself.
Strategy’s Financial Health: A Deeper Dive
While Strategy has seen significant profits from holding Bitcoin, these gains primarily stem from a tax advantage, not from its core business operations.
“These gains, driven by fair value accounting, aren’t cash in hand like Apple’s billions from iPhone sales, they are paper profits tied to Bitcoin’s price. Investors and analysts should see this as a speculative boost, not a sign of operational strength, and focus on cash flow and debt to gauge real business health,” Cardozo explained.
Effectively comparing Strategy’s net income to other characteristics like cash flow and debt indeed reveals more about the problems that may lie ahead for the company, especially if Bitcoin’s price were to decline steadily.
Changes in Bitcoin’s price over the past three months. Source: BeInCrypto.
According to the firm’s most recent SEC filings, Strategy reported its outstanding debt amounted to $8.22 billion as of March 2025. It also had a negative cash flow of -$2 million, representing a significant decline year over year.
Though these numbers make sense considering Strategy’s aggressive Bitcoin buying, they also demonstrate that the company’s core software business is not generating enough cash to cover its expenses. Strategy said so itself in its latest filing.
“A significant decrease in the market value of our Bitcoin holdings could adversely affect our ability to satisfy our financial obligations,” read the statement.
It must issue debt and new equity to raise capital to continue its strategy. The plan is risky, to say the least.
Is Bitcoin Right for Every Company?
Given that Strategy’s main income comes from its Bitcoin purchases, Cardozo argues that other companies should carefully consider their financial position before taking a similar approach.
“Analysts should weigh this against operational metrics; a company living on unrealized gains is riskier by nature. I think it’s an innovative strategy, but for long-term health, especially for traditional businesses, cash-generating operations beat paper profits any day, investors should keep that in mind,” he said.
However, as Bitcoin increasingly symbolizes technological innovation, companies aligning with this principle might feel pressured to embrace it. They wouldn’t need to acquire nearly 600,000 Bitcoins, like Strategy, to make such a statement.
They also have a resilient enough treasury to break a fall.
“I’m pretty confident that Apple and Nvidia will eventually invest into Bitcoin, especially with its current track record over the last 10 years,” Cardozo said, adding, “their treasuries could handle a small 1-5% allocation, and not only be hedged against inflation but also as a branding move since they represent the very image of innovation which will also pressure them to do so eventually.”
Yet, ultimately, companies like Apple and Nvidia cater to different customers. Adding Bitcoin to their balance sheets may cause them to lose clients.
The Sustainability Question for Bitcoin Adopters
It’s no secret that Bitcoin mining is extensively damaging to the environment. Strategy, through its Bitcoin acquisitions, directly contributes to the high energy consumption levels associated with the industry.
“Bitcoin’s annual energy consumption is equivalent to a mid-sized country and of course it’s a conflict right off the bat with Apple’s 2030 carbon neutrality target and Nvidia’s renewable energy push,” Cardozo told BeInCrypto.
These companies could risk damaging their public image by associating with an industry that conflicts with their own Environmental, Social, and Governance (ESG) goals.
“Customers and activists might pressure them, seeing it as greenwashing, especially with sustainability being a big part of their public image… they could align Bitcoin with their ESG goals and keep their image intact as Bitcoin mining becomes more sustainable than traditional banking’s legacy system,” Cardozo added.
Ultimately, while the allure of Bitcoin’s gains might pressure tech giants like Apple and Nvidia to follow Strategy’s lead, such a consideration may cause these companies more problems than profits.
