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
Founders of Session Promote Privacy Awareness and Decentralization

Founders of Session Promote Privacy Awareness and Decentralization

Session Executives Warn of AI and Regulatory Threats to Private Messaging

Session executives warn of AI and regulatory threats to private messaging, emphasizing the need for data privacy awareness.

Netflix Faces Stock Challenges Amid Strategic Shifts

Netflix faces stock challenges as shares drop to near 52-week lows, prompting exploration of new growth strategies.

Elon Musk Directs X to Enhance Creator Payouts

Elon Musk directs X to enhance creator payouts to compete with YouTube, aiming to reshape the content creation landscape.

Netflix Embraces Crypto-Themed Storytelling

Netflix is venturing into crypto-inspired content with a new romantic comedy titled 'One Attempt Remaining', focusing on a divorced couple trying to recover a lost cryptocurrency password.

Analysts Predict Continued Volatility in Copper Market into 2026

Analysts predict continued volatility in copper prices into 2026 due to supply constraints and trade policy uncertainties.

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