• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Refund of $70M 'address poisoning' scam ongoing with over 50% returned

user avatar

by Giorgi Kostiuk

2 years ago


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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

XRP XRP Bridges Fintech and Crypto

chest

XRP serves as a bridge currency for cross-border payments, positioning itself as a key player in the financial technology landscape.

user avatarLi Weicheng

XRPC ETF Sees Record First-Day Trading Volume

chest

The XRPC ETF achieved a remarkable first-day trading volume of $586 million on Nasdaq, surpassing previous records.

user avatarZainab Kamara

Uniswap UNI Token Surges Following Major Burn Proposal

chest

The Uniswap UNI token has surged by 40% following a proposal to activate a fee switch and burn tokens, aimed at reducing total supply and enhancing long-term value.

user avatarSon Min-ho

Massive Futures Liquidation Wipes Out $158 Million in One Hour

chest

A staggering $158 million in futures were liquidated across major cryptocurrency exchanges in just 60 minutes, highlighting extreme market volatility.

user avatarAyman Ben Youssef

BMNR Stock Price Declines Amid Crypto Market Turmoil

chest

BMNR stock has fallen further by 2% after a significant drop due to the ETH price crash, signaling selling pressure.

user avatarTando Nkube

Misleading Claims About UAE Banning Bitcoin

chest

A claim circulating on social media alleges that the UAE has banned Bitcoin and self-custody wallets, which has been proven misleading and based on a misinterpretation of new financial regulations.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.