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
New York Takes Legal Action Against Coinbase and Gemini for Gambling Law Violations

New York has filed lawsuits against Coinbase and Gemini for allegedly violating state gambling laws by offering prediction markets.

New York AG Letitia James Sues Coinbase and Gemini Over Illegal Gambling

New York Attorney General Letitia James has filed a lawsuit against Coinbase and Gemini for allegedly operating illegal prediction markets without the necessary licenses.

Amazon Expands Partnership with Anthropic with $25 Billion Investment

Amazon has announced a significant investment in AI startup Anthropic, enhancing their partnership with a total potential stake of $33 billion.

XRP's Role in DeFi Sparks Controversy

A heated debate has emerged regarding XRP's position in the decentralized finance sector, highlighting the importance of reliability in protocol design.

XRP's DeFi Ecosystem Surges Towards 160 Million Tokens

The FXRP supply is rapidly approaching 160 million tokens, showcasing the growing adoption of XRP within the decentralized finance landscape.

Arbitrum Security Council Takes Emergency Action to Freeze Funds Linked to KelpDAO Exploit

The Arbitrum Security Council has taken emergency action to freeze 30,766 ETH linked to the KelpDAO exploit, following law enforcement input.

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