Massive $69.3 Million Wrapped Bitcoin Heist: Address Poisoning Scam Unfolds

Massive $69.3 Million Wrapped Bitcoin Heist: Address Poisoning Scam Unfolds



In a startling revelation, blockchain security specialists from CertiK have reported a significant loss in the cryptocurrency realm. A crypto enthusiast was defrauded of approximately $69.3 million in wrapped Bitcoin (WBTC) due to a sophisticated address poisoning attack executed on May 3. Initially, the perpetrator mimicked a minor transaction of 0.05 Ethereum (ETH) to gain the victim's trust, subsequently pilfering the WBTC in a subsequent transaction.



This deceptive technique involved the creation of a wallet address that closely resembles the victim's, with only slight variations in the alpha-numeric characters at the beginning and end of the address, which often go unnoticed due to their length and complexity.



The severity of this incident was further underscored by on-chain investigator ZachXBT and crypto security firm


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#Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulations, #Scam

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