Trader lost $68 million due to address spoofing fraud
Cyvers Alerts reported an anonymous user who was the victim of an attack known as "address poisoning"*. As a result of this attack, he lost access to 1,155 wrapped Bitcoins, worth approximately $68 million.
*When using the “address poisoning” method, attackers, either by deception or using technical tricks, force the user to send cryptocurrency to a fake address, which is similar to the real one only in the starting and ending characters.
The theft was first reported by network security firm Cyvers in its X account on May 3:
“Are we wrong, or did someone actually lose $68M in WBTC? Our system detected another address that fell victim to address poisoning, losing 1155 WBTC."
Source: Cyvers Alerts.
According to CoinStats, the victim, wallet “0x1E...”, lost more than 97% of its total assets, worth more than $67.8 million.
Source: Bholder tool from AML Crypto
AML Crypto Reminder
It is almost impossible to prevent an attack, so our team reminds you how important it is to be extremely careful when copying addresses from your transaction history. Seemingly simple and trivial methods of digital hygiene and cyber security should not be neglected.
We also remind you that it is necessary to check the risks associated with your counterparties in the blockchain. The question “how to check high risk in cryptocurrency” is answered by special AML services such as our Btrace. AML address verification in our solution will take only 3 seconds, but will save you from many risks. And the first AML check is free for every new user.
We also remind you that it is necessary to check the risks associated with your counterparties in the blockchain. The question “how to check high risk in cryptocurrency” is answered by special AML services such as our Btrace. AML address verification in our solution will take only 3 seconds, but will save you from many risks. And the first AML check is free for every new user.
Check blockchain address using Btrace
In seconds, determine the risk level of the counterparty’s address, find out the source of his funds and make an informed decision about interacting with him.
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