WBTC Loses $68 Million as Trader Becomes Victim to Fix Addiction
Key Takeaways
- One trader lost $68 million in WBTC due to an address poisoning scam that sent funds to fraudulent addresses.
- The massive losses disclosed by Cybers accounted for more than 97% of traders’ holdings, totaling $67.8 million.
- In a scam, small transactions from similar addresses lead traders to use these addresses to make large transfers.
An unidentified trader was scammed. Addresses poisoning attacks.
The attack resulted in casualties. I lost 1,155 Wrapped Bitcoin (WBTC) worth about $68 million.
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The incident was recently disclosed by Web3 security company Cybers. social media post.
In this scam, known as address poisoning, traders identified only by the wallet ID “0x1E” I was tricked into sending huge amounts of WBTC to a fraudulent address.
This error resulted in the loss of: It holds more than 97% of the total holdings, This amounts to approximately $67.8 million.
Address addiction scam Cybercriminals create cryptocurrency addresses similar to the victim’s address. Often the first and last letters match.
Then the fraudster Send a microtransaction to the victim’s wallet. The goal is to ensure that the victim is not paying attention and accidentally Copy this scam address from your transaction history and use it for your next transaction.
This theft highlights the need for increased security measures and caution when making digital transactions, and highlights how advanced and deceptive fraud schemes targeting digital assets have become.
For example, the North Korean hacker group Lazarus began stealing cryptocurrency by posing as job-seeking blockchain developers on LinkedIn and launching malware attacks.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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