Ethereum

<ul><li>A cunning actor orchestrates a shocking Sybil attack, capturing the attention of the cryptocurrency community.</li><li>Prominent Chinese reporter Colin Wu uncovers the intricate web of a cryptocurrency marauder's scheme.</li><li>The attacker's covert manipulation of 21,877 zkSync wallets exposes security vulnerabilities in the crypto world.</li></ul>In a surprising twist, a cunning actor has successfully executed a meticulously planned Sybil attack, leaving the cryptocurrency community in awe. Notably, a prominent Chinese reporter, Colin Wu, took to his official Twitter account, Wu Blockchain, to shed light on this unfolding incident.The attacker's ingenious strategy began by channeling small amounts of Ether into numerous wallets, introducing their proprietary token known as Gemstone (GEM), a closed-source creation. This sinister plot extended to whitelisting all these wallets, effectively asserting control over self-deployed tokens.On September 11, Wu took to Twitter to unveil the "professional airdrop hunter's" attack:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/0610a6d6f0ee43e9a1210632ba08815c.png">The audacious plan delves further into creating a concealed decentralized exchange (DEX), which remains closed-source, as a covert means to facilitate discreet asset transfers among the manipulated wallets. To amplify the value of GEM tokens, the assailant cunningly injected over 80 ETH into their DEX contract. This tactical move was followed by a shrewd market test involving GEM token trading. Subsequently, the attacker orchestrated the swap of GEM tokens from the 21,877 wallets, reaping profits ranging from 0.6 to 0.7 ether per transaction.The mastermind utilized a meticulously programmed bot to carry out transactions, ensuring seamless automation while evading manual interference. Staggeringly, the attacker adjusted liquidity levels as needed, achieving a remarkable $10,000 volume and 10 transactions per wallet while incurring meager fees of merely $1.5 to $2 in ether. The timing of these transactions was orchestrated with surgical precision, spanning different months, weeks, and days to mimic the activities of legitimate Layer-2 projects.Read full article at<a href="https://cryptotale.org/cryptocurrency-marauder-exposes-21877-zksync-sybil-attack/" rel="noopener noreferrer nofollow"> CryptoTale .</a>

Cryptocurrency Marauder Exposes 21,877 zkSync Sybil Attack

CryptoTale

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