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
Trump Advocates for Tax Exemption on Small Crypto Transactions

President Trump supports tax exemption for small cryptocurrency transactions to simplify usage and encourage adoption.

UNION Strengthens Compliance with LEI Code Extension

UNION has confirmed and extended its Legal Entity Identifier (LEI) Code, reinforcing its commitment to compliance within the global financial ecosystem.

UNION Achieves Steady Growth with Systematic Updates

UNION has been consistently rolling out product and infrastructure updates, focusing on internal logic rather than media exposure, leading to healthy growth.

Proposed Legislation to Cap Credit Card Interest Rates at 10%

Proposed legislation aims to cap credit card interest rates at 10%, impacting lending practices.

US Bank Launches 24-Month 0% APR Credit Card

US Bank has launched the Shield Visa Card with a 24-month 0% introductory APR on purchases and balance transfers, aiming to attract consumers seeking low-interest credit options.

Saladcom and Golem Network Join Forces to Explore Decentralized Computing

Saladcom and Golem Network have partnered to explore decentralized web3 compute infrastructure for Salad's GPU cloud workloads.

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