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
ChatGPT Enhances Financial Advice with New Feature

ChatGPT's new personal finance feature enhances financial advice by analyzing users' spending data from the last 90 days to create personalized financial plans.

OpenAI Introduces Personalized Finance Feature in ChatGPT

OpenAI has launched a new personal finance feature in ChatGPT that connects to users' actual bank accounts, providing tailored financial advice based on their spending habits.

Hana Financial Group Makes Major Investment in Dunamu

Hana Financial Group announced a major investment in Dunamu, acquiring a 65.5% stake for approximately 1 trillion Korean won, marking the largest investment by a South Korean bank in a digital asset company.

Hana Financial and Dunamu Collaborate on Digital Asset Services

Hana Financial and Dunamu have signed a memorandum of understanding to develop services that integrate traditional banking with digital assets.

CME and ICE Push for Federal Oversight of Hyperliquid

CME Group and Intercontinental Exchange are lobbying for federal oversight of Hyperliquid, citing concerns over market manipulation and sanctions evasion.

Bitcoin Depot Under Fire for Alleged Consumer Protection Failures

Bitcoin Depot is under scrutiny for alleged consumer protection failures, facing accusations of misleading pricing and facilitating scams, particularly affecting older Americans.

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