Wrapped Bitcoin

DeFi

Planet

April

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 In a remarkable twist of events, a scammer involved in a significant poisoning scam that resulted in the loss of $71 million worth of Wrapped Bitcoin (WBTC) has initiated contact with the victim through Telegram, offering to return 50% of the stolen funds.&nbsp;
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The incident, <a style="color: #0000ff;" href="https://twitter.com/realScamSniffer/status/1786374327740543464?t=zr3FS7jBlTby5kc3bw-TBA&amp;s=19" rel="noopener noreferrer nofollow">first reported</a> on May 3, 2024, sent shockwaves through the cryptocurrency community. However, on May 10, 2024, <a style="color: #0000ff;" href="https://m.peckshield.com/" rel="noopener noreferrer nofollow">Peckshield</a>, an on-chain security firm, disclosed that the scammer had taken a surprising step by sending 51 ETH to the victim, accompanied by a message soliciting communication via Telegram.
According to the <a style="color: #0000ff;" href="https://twitter.com/PeckShieldAlert/status/1788851715707678945?t=ui_ibGv2qYgcU05tbbTypg&amp;s=19" rel="noopener noreferrer nofollow">Peckshield Alert</a>, the scammer subsequently went on to return nearly 50% of the pilfered funds to the victim’s address, channelling the restitution in the form of Ethereum. The returned amount totaled a staggering 11,446.87 ETH, equivalent to nearly $35 million. However, the transfer was executed through three separate transactions, leaving the victim still awaiting the return of the remaining 50% of the stolen funds.
The gesture of returning part of the stolen cryptocurrency comes amidst a backdrop of escalating losses in the crypto space due to hacks, exploits, and scams. Despite a reduction in losses compared to previous months, with April 2024 witnessing a total loss of over $449.3 million, the incident serves as a stark reminder of the inherent risks associated with cryptocurrency investments.
The initial phishing attack that led to the theft of 1155 WBTC <a style="color: #0000ff;" href="https://slowmist.medium.com/small-bait-big-fish-unveiling-the-1155-wbtc-phishing-incident-22bf53b6fe60" rel="noopener noreferrer nofollow">employed</a> a sophisticated method wherein the hacker generated phishing addresses with matching beginning and end digits to the victim’s intended transfer address. Through this deceptive tactic, the victim inadvertently transferred the WBTC to the phishing address, resulting in substantial financial loss.
In response to the incident, security firms such as <a style="color: #0000ff;" href="https://twitter.com/PeckShieldAlert/status/1788851715707678945?t=ui_ibGv2qYgcU05tbbTypg&amp;s=19" rel="noopener noreferrer nofollow">Peckshield</a> and <a style="color: #0000ff;" href="https://twitter.com/SlowMist_Team/status/1788847044632920238?t=o2irEZLTJCBMRhL3mGp2eA&amp;s=19" rel="noopener noreferrer nofollow">SlowMist</a> have been actively monitoring the flow of funds and profiling the hacker behind the scam. The investigation has unveiled extensive phishing activities spanning multiple blockchain networks, suggesting a coordinated effort by the hacker to target unsuspecting users.
The return of a portion of the stolen funds, lingering questions remain regarding the motives of the scammer and the likelihood of further restitution.&nbsp;
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The post <a href="https://defi-planet.com/2024/05/wbtc-scam-scammer-contacts-victim-via-telegram-returns-50-of-stolen-crypto/" rel="noopener noreferrer nofollow">WBTC SCAM: Scammer Contacts Victim via Telegram, Returns 50% of Stolen Crypto</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

WBTC SCAM: Scammer Contacts Victim via Telegram, Returns 50% of Stolen Crypto

DeFi Planet

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