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
Ten Cows Become First Livestock Collateral on Brazil's Stock Exchange

Ten cows from Fazenda Engenho Velho in Brazil have become the first livestock collateral formally registered on the country's stock exchange, utilizing blockchain technology and AI-powered sensors.

SP Dow Jones Indices and Pantera Capital Launch New Digital Asset Benchmark

SP Dow Jones Indices and Pantera Capital have launched the SP Pantera Digital Asset Index (SPPDA), a new benchmark that tracks crypto networks through a fundamentals-focused lens.

T Rowe Price Introduces Active Crypto ETF for Diverse Digital Asset Exposure

T Rowe Price has filed for an Active Crypto ETF, TKNZ, to hold 5-15 digital assets, marking a shift in the crypto ETF market.

French Gambling Authority Blocks Access to Polymarket

The French National Gambling Authority (ANJ) has ordered internet service providers to block access to Polymarket due to concerns over illegal gambling practices.

Smarter Web Company Sells Bitcoin to Repay Debt

The Smarter Web Company sold part of its Bitcoin treasury to repay an $11.7 million convertible debt facility, prioritizing balance sheet flexibility over equity dilution.

BancaStato Brings Crypto Trading to Traditional Banking

BancaStato partners with Sygnum and Avaloq to integrate cryptocurrency trading into its banking services, allowing clients to buy, hold, and sell digital assets directly through the bank's platforms.

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