Ethereum

2024

Bitcoin

ZachXBT

April

Crypto scammers successfully stole a whopping 1,155 wrapped Bitcoin using a technique that tricks users into malicious transactions.&nbsp; 
According to blockchain security provider <a href="https://x.com/CertiKAlert/status/1786378165050306774" target="_blank" rel="">CertiK</a>, a crypto user lost over $69.3 million in wrapped Bitcoin (WBTC) to an address-poisoning attack on May 3.&nbsp;At first, the attacker mirrored a 0.05 Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>) transfer before stealing the WBTC in the next transaction. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/CertiKInsight?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#CertiKInsight</a> 🚨 Our system has detected a transfer of 1,155 WBTC (~$69.3m) to an address linked to address poisoning EOA 0xd9A1 mimicked a transfer of 0.05 ETH which led the victim to send the funds to the wrong address Stolen funds are here <a href="https://t.co/m2xpJW0QIZ" target="_blank" rel="">https://t.co/m2xpJW0QIZ</a> <a href="https://t.co/PWFhEsEN2G" target="_blank" rel="">pic.twitter.com/PWFhEsEN2G</a>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1786378165050306774?ref_src=twsrc%5Etfw" target="_blank" rel="">May 3, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
 You might also like: <a href="https://crypto.news/defillama-crypto-hacks-comprise-7-7b-in-losses-since-2016/" rel=""> DefiLlama: Crypto hacks comprise $7.7b in losses since 2016 </a> 
On-chain investigator <a href="https://t.me/investigations/114" target="_blank" rel="">ZachXBT</a> and crypto security provider Cyvers corroborated the news. Cyvers CTO Meir Dolev said the case was “probably the highest value lost due to an address poisoning scam” to date.&nbsp; 
In an address poisoning scam, victims are presented with a similar wallet address and deceived into transferring assets to an exploiter. The malicious address usually imitates the four to six characters at the beginning and end of an address.&nbsp; 
Users fall prey to this method as the differences are sometimes hard to spot, especially since wallet addresses may exceed 40 alpha-numeric characters in some cases.&nbsp; 
The incident has already eclipsed the proceeds from exploits and scams throughout the last month, which <a href="https://crypto.news/certik-damage-from-hacks-scams-reaches-lowest-level-since-2021/" target="_blank" rel="">amounted</a> to about $25.7 million in digital assets. CertiK also noted that April saw the lowest defi scam levels seen since 2021.&nbsp; 
 Read more: <a href="https://crypto.news/losses-from-crypto-hacks-drop-67-to-60m-in-april/" rel=""> Losses from crypto hacks drop 67% to $60m in April </a>

Crypto user loses $69.3m to address poisoning scammer

crypto.news

Other articles published on May 3, 2024

Top 4 Altcoins At 70% Discounts – Last Chance!

Ethereum Name Service Sues Unstoppable Domains Over Patent

Legendary Analyst Makes Bullish Statement About Fast-Rising Solana Meme Coin Trading Under $0.01,...

Will Bitcoin Prices Continue to Rise?

Dr. Mehmet Oz Advocates AI Integration in Turkiye’s Medical Device Sector

Pantera Capital Fuels TON Network’s Growth with Strategic Investment: Impact on TON Coin’s Future

Join our free newsletter for daily crypto updates!