Exploiter Steals $68M Worth of Crypto Through Address Poisoning

https://www.coindesk.com/business/2024/05/03/exploiter-steals-68m-worth-of-crypto-through-address-poisoning/

The victim was duped by a mimicked 0.05 ether transfer.

Updated May 3, 2024, 2:13 p.m. Published May 3, 2024, 2:07 p.m.

A user unintentionally sent 1,155 wrapped bitcoin to an exploiter's wallet after being targeted by address poisoning.
The scam has been confirmed by various blockchain security firms.

A cryptocurrency user has lost $68 million worth of wrapped bitcoin WBTC$109,380.93 after falling victim to an address poisoning exploit, according to blockchain security firm CertiK.

Address poisoning is a technique that involves tricking the victim into sending a legitimate transaction to the wrong wallet address by mimicking the first and last six characters of the true wallet address and depending on the sender to miss the discrepancy in the intervening characters. Wallet addresses can be as long as 42 characters.

In this case, the exploiter mimicked a 0.05 ether {{ETH}} transaction before receiving 1,155 WBTC from the victim.

Security platform Cyvers and blockchain sleuth ZachXBT confirmed that $68 million had been lost to an address poisoning scam.

Crypto investors lost $2 billion to hacks, scams and exploits across decentralized finance (DeFi) in 2023 and an additional $333 million was stolen in the first quarter.

Higit pang Para sa Iyo

'NFTs Turned Out to be a Fad,’ Says Kevin O’Leary as He Buys $13M Collectible Card

The Shark Tank investor sees NFTs as a "fad," reveals investment thesis in high-end physical collectibles.

Ano ang dapat malaman:

Kevin O’Leary co-purchased a $13M Kobe-Jordan card, part of his index of rare physical collectibles.
He dismissed NFTs as a passing trend with no tangible value.
Says his physical collectibles will one day be tokenized

Basahin ang buong kwento

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  "description": "A cryptocurrency user has lost $68 million worth of wrapped bitcoin (WBTC) after falling victim to an “address poisoning” exploit, according to blockchain security firm CertiK.",
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{
  "url": "https://www.coindesk.com/business/2024/05/03/exploiter-steals-68m-worth-of-crypto-through-address-poisoning",
  "title": "Exploiter Steals $68M Worth of Crypto Through Address Poisoning",
  "description": "The victim was duped by a mimicked 0.05 ether transfer.Updated May 3, 2024, 2:13 p.m. Published May 3, 2024, 2:07 p.m. A user unintentionally sent 1,155 wrapped bitcoin to an exploiter's wallet after being...",
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  "content": "<div><h2>The victim was duped by a mimicked 0.05 ether transfer.</h2><p><span>Updated May 3, 2024, 2:13 p.m. </span><span>Published May 3, 2024, 2:07 p.m. </span></p></div><div><ul><li>A user unintentionally sent 1,155 wrapped bitcoin to an exploiter's wallet after being targeted by address poisoning.</li><li>The scam has been confirmed by various blockchain security firms.</li></ul><hr /><p>A cryptocurrency user has lost $68 million worth of wrapped bitcoin <span><a target=\"_blank\" href=\"https://www.coindesk.com/price/wrapped-bitcoin\"><span><span><span>WBTC</span><span><svg height=\"24\" width=\"25\"></svg></span><span>$109,380.93</span></span></span></a></span> after falling victim to an address poisoning exploit, according to <a href=\"https://twitter.com/CertiKAlert/status/1786378165050306774\" target=\"_blank\">blockchain security firm CertiK</a>.</p><p>Address poisoning is a technique that involves tricking the victim into sending a legitimate transaction to the wrong wallet address by mimicking the first and last six characters of the true wallet address and depending on the sender to miss the discrepancy in the intervening characters. Wallet addresses can be as long as 42 characters.</p><p>In this case, the exploiter mimicked a 0.05 ether {{ETH}} transaction before receiving 1,155 WBTC from the victim.</p><p>Security platform <a href=\"https://twitter.com/CyversAlerts/status/1786363410243858869\" target=\"_blank\">Cyvers</a> and blockchain sleuth <a href=\"https://t.me/investigations/114\" target=\"_blank\">ZachXBT</a> confirmed that $68 million had been lost to an address poisoning scam.</p><p>Crypto investors <a target=\"_blank\" href=\"https://www.coindesk.com/tech/2023/12/27/crypto-users-lost-2b-to-hacks-scams-and-exploits-in-2023-defi-says/\">lost $2 billion to hacks</a>, scams and exploits across decentralized finance (DeFi) in 2023 and an additional <a target=\"_blank\" href=\"https://www.coindesk.com/video/crypto-lost-dollar333m-to-hacks-in-q1-of-2024-immunefi/\">$333 million was stolen</a> in the first quarter.</p></div><div><p>Higit pang Para sa Iyo</p><div><p>'NFTs Turned Out to be a Fad,’ Says Kevin O’Leary as He Buys $13M Collectible Card</p><figure><img alt=\"Kevin O'Leary (CoinDesk)\" srcset=\"https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F6ff96648eeefe26a5f2c55b1a89e57dc09f62d4b-720x406.jpg%3Fauto%3Dformat&amp;w=1920&amp;q=75 1x, https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F6ff96648eeefe26a5f2c55b1a89e57dc09f62d4b-720x406.jpg%3Fauto%3Dformat&amp;w=3840&amp;q=75 2x\" src=\"https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F6ff96648eeefe26a5f2c55b1a89e57dc09f62d4b-720x406.jpg%3Fauto%3Dformat&amp;w=3840&amp;q=75\" /></figure><p>The Shark Tank investor sees NFTs as a \"fad,\" reveals investment thesis in high-end physical collectibles.</p><div><p>Ano ang dapat malaman: </p><div><ul><li>Kevin O’Leary co-purchased a $13M Kobe-Jordan card, part of his index of rare physical collectibles.</li><li>He dismissed NFTs as a passing trend with no tangible value.</li><li>Says his physical collectibles will one day be tokenized</li></ul></div></div><p><a target=\"_blank\" href=\"https://www.coindesk.com/business/2025/09/03/nfts-turned-out-to-be-a-fad-says-kevin-o-leary-as-he-buys-usd13m-collectible-card\">Basahin ang buong kwento<svg width=\"21\" height=\"21\"></svg></a></p></div></div>",
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