Ethereum

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Wrapped Bitcoin

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<ul> 
 <li>A recent cyber attack on a cryptocurrency investor resulted in a substantial financial loss of $70 million in Wrapped Bitcoin (WBTC).</li> 
 <li>The incident unfolded over a span of six hours and had a profound impact on the crypto market.</li> 
 <li>Lookonchain, a blockchain analytics platform, first reported this event after detecting unusual activity linked to a newly created crypto address.</li> 
</ul> 
<p><strong>A cryptocurrency investor loses $70 million in WBTC due to a cyber attack, highlighting the need for heightened security measures in digital asset transactions.</strong></p> 
<h2 id="strong-how-was-the-crypto-investor-scammed-strong"><strong>How Was the Crypto Investor Scammed?</strong></h2> 
<p>The affected investor had set up a new wallet address and transferred a small amount of Ethereum to it, a common practice among crypto owners to manage transaction fees in the decentralized finance sector. Unbeknownst to them, a scammer had replicated a similar-looking address, capturing only the first and last few characters, making it appear legitimate. This deceptive similarity led the investor to mistakenly send approximately $71 million worth of WBTC to the fraudster’s address.</p>
<div class="code-block-grte code-block-grte-10" style="margin: 8px auto 8px 0; text-align: left; display: block; clear: both;"> <a href="https://en.coinotag.com/massive-70m-loss-in-bitcoin-btc-crypto-scam-unraveling-the-latest-cryptocurrency-fraud/">Read the full article for FREE at COINOTAG!</a>
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Massive $70M Loss in Bitcoin (BTC) Crypto Scam: Unraveling the Latest Cryptocurrency Fraud

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