A victim initially involved in a $70 million ‘address poisoning’ scam is in the process of getting refunded. A significant portion of the funds (14,500 ETH) has already been sent back to the victim’s Ethereum address. Nearly a week after the original loss of 1155 WBTC, transactions ranging from 25 ETH to 50 ETH started to come in from multiple addresses where the stolen funds had been dispersed. Scammers use address poisoning to deceive crypto users into transferring funds to a similar-looking address. By creating thousands of addresses and sending small transactions from one that closely resembles the victim's address, they mess up the victim's transfer history before awaiting an error. Once the victim mistakenly sends money to a scammer, the attack succeeds. After falling for the trap, the victim messaged the scammer through Ethereum’s input data messaging system to possibly negotiate a return. So far, over half of the stolen funds have been successfully returned in more than 200 transactions upon the victim's confirmation of receiving the initial amount.
Refund of $70M 'address poisoning' scam ongoing with over 50% returned

by Giorgi Kostiuk
2 years ago

Other news
Dogecoin Price Recovery and Resistance Levels

Dogecoin has initiated a recovery wave, overcoming key resistance levels, but faces challenges ahead.

XRP Price Rebound and Important Resistance Points.

XRP price shows signs of recovery, trading above key support levels and facing resistance at 11740.

Vietnam to Mandate Crypto Trading in Local Currency

Vietnam plans to mandate that all domestic crypto transactions be settled in Vietnamese dong, barring dollar-paired trades on licensed platforms.

Joseph Lubin's Wallet Moves 80,001 ETH, Sparking Market Panic

A wallet linked to Ethereum cofounder Joseph Lubin has moved 80,001 ETH for the first time in over three years, causing market concern.

Whales React to Market Conditions Amid ETH Transfers

In the wake of significant ETH transfers, various crypto whales are displaying contrasting strategies, with some selling and others buying back into the market.

Ethereum Experiences Significant Price Drop Below $1,800

Ethereum's price has recently crashed below the $1,800 mark, reaching a low of $1,536, raising concerns among investors about its future performance.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter