- The hacker who pulled off a $68 million address poisoning scam has requested to contact the victim via the Ethereum blockchain.
- The trader lost the substantial amount of wrapped Bitcoin (BTC) by sending it to a fraudulent address that closely resembled the real one.
- Blockchain security firm, SlowMist, identified several IPs of the hacker originating from Hong Kong-based mobile stations.
A $68 million scam sees a hacker reaching out to the victim via the Ethereum blockchain, after successfully executing an address poisoning scam. The incident highlights the importance of vigilance in the crypto space.
A $68 million nightmare
As reported, a trader lost a staggering $68 million worth of wrapped Bitcoin (BTC) by sending the sum to a fraudulent address that looked almost identical to the real one. Address poisoning involves sending spam transactions from nearly identical addresses. The victims are expected to copy and paste these addresses from transaction history without double-checking them. The fact that someone with such a significant amount of crypto fell for such a simple ruse has puzzled many in the cryptocurrency community.
Tracking down the hacker
Shortly after scamming the traders out of their millions, the hacker began converting the ill-gotten funds into multiple Ethereum addresses. However, some experts noted that it would be very challenging for the hacker to launder these funds without getting caught. SlowMist, a blockchain security firm, further explored the incident. It identified several IPs of the hacker that originate from Hong Kong-based mobile stations. However, it was possible that a VPN was used for conducting the transactions. The hacker also conducted similar attacks on the Tron network.
Conclusion
This incident underscores the importance of vigilance and thoroughness when dealing with crypto transactions. As the crypto space continues to grow, so too does the sophistication and audacity of hackers. It is imperative for traders to double-check addresses and remain wary of potential scams.
