Trader Loses $68 Million in Wrapped Bitcoin in Single Address-Poisoning Scam
Summary:
An unidentified trader has reportedly lost $68 million in Wrapped Bitcoin (WBTC) in a single transaction due to an address-poisoning scam. The compromised wallet, known as "0x1E", has lost over 97% of its total assets, as per CoinStats. The incident underscores the risk of address spoofing scams, where victims are tricked into sending digital assets to fraudulent addresses.
In a recent address-poisoning scam, an unidentified trader has reportedly lost $68 million in Wrapped Bitcoin (WBTC) in just a single transaction. The substantial loss was initially disclosed by Cybers, an on-chain security company, in a post on May 3rd. The post queried whether an astonishing $68 million in WBTC really had been lost after their system detected an address had fallen prey to what's known as address poisoning, losing 1,155 WBTC in the process. According to CoinStats, the compromised wallet, known only as "0x1E", has lost in excess of 97% of its total assets, equating to a staggering loss of just over $67.8 million. Address poisoning, or address spoofing, is a nefarious tactic used by scammers capitalizing on the unsuspected carelessness or rush of traders during transactions. In this scam, victims are deceived into sending their digital assets to bogus addresses controlled by the scammers. As a recent example of similar incidents, a suspect in a ZKasino scam was apprehended and $12.2M was confiscated by Dutch authorities. Additional details on this story will be shared as they emerge.
Published At
5/3/2024 3:49:48 PM
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