Old firmware is a goldmine for hackers. MStar chips run Linux (Android TV). Using an upgrade.bin leaves you vulnerable to BlueBorne or KRACK attacks. Using a new firmware patches these exploits. Therefore, updating is recommended for security, but only if the source is trusted.
The phrase “mstarupgradebin new” is used as descriptive text, not an actual filename. A novice user may literally copy the string. mstarupgradebin new
The file is the standard firmware update format used by televisions and smart devices powered by MStar (MediaTek) chipsets. While the "new" versions vary by manufacturer, they all serve the same purpose: providing a bootable image that can recover a "bricked" TV or update the system software via a USB flash drive. What is MstarUpgrade.bin? Old firmware is a goldmine for hackers