• About
  • Landing Page
  • Buy JNews
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Trader Falls Victim to Address Poisoning, Loses $68M WBTC

SB Crypto Guru News by SB Crypto Guru News
May 3, 2024
in Crypto Updates
0 0
0
Trader Falls Victim to Address Poisoning, Loses M WBTC


Key Takeaways

  • A trader lost $68 million in WBTC due to an address poisoning scam, where they sent funds to a fraudulent address;
  • The massive loss, disclosed by Cyvers, accounted for over 97% of the trader’s holdings, totaling around $67.8 million;
  • In the scam, a small transaction from a similar-looking address tricked the trader into using it for a large transfer.

An unidentified trader was deceived in an address poisoning attack.

The attack resulted in the victim losing 1,155 Wrapped Bitcoin (WBTC), worth around $68 million.

Bullish vs Bearish Markets: How to Predict it? (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

This incident was disclosed by the Web3 security firm Cyvers in a recent social media post.

In this scam, known as address poisoning, the trader—identified only by the wallet ID “0x1E”—was tricked into sending a massive amount of WBTC to a fraudulent address.

This error led to the loss of over 97% of their total holdings, amounting to approximately $67.8 million.

In an address poisoning scam, a cybercriminal makes a crypto address similar to the victim’s, often matching the initial and final characters.

The scammer then sends a small transaction to the victim’s wallet. The goal is for the victim, not paying close attention, to mistakenly copy this fraudulent address from their transaction history and use it in their next transactions.

The theft highlights a need for heightened security measures and carefulness when making digital transactions, emphasizing how advanced and deceptive fraud schemes have become in targeting digital assets.

For example, the North Korean hacker group Lazarus has started stealing crypto by posing as job-seeking blockchain developers on LinkedIn and launching malware attacks.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.




Source link

Tags: 68MAddressBitcoin NewsCrypto NewsCrypto UpdatesFallsLatest News on CryptoLosesPoisoningSB Crypto Guru NewsTradervictimWBTC
Previous Post

Friend.tech Whale Sells Off Airdropped Tokens, Shakes Market

Next Post

Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ Manifesto

Next Post
Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ Manifesto

Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ Manifesto

  • Trending
  • Comments
  • Latest
How to Get Token Prices with an RPC Node – Moralis Web3

How to Get Token Prices with an RPC Node – Moralis Web3

September 3, 2024
Meta Pumps a Further  Million into Horizon Metaverse

Meta Pumps a Further $50 Million into Horizon Metaverse

February 24, 2025
AI & Immersive Learning: Accelerating Skill Development with AI and XR

AI & Immersive Learning: Accelerating Skill Development with AI and XR

June 4, 2025
The Metaverse is Coming Back! – According to Meta

The Metaverse is Coming Back! – According to Meta

February 7, 2025
NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

September 6, 2024
Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

January 29, 2025
FTX EU (Now Trek Labs) Paid €200K in Latest CySEC Settlement

FTX EU (Now Trek Labs) Paid €200K in Latest CySEC Settlement

0
Bitcoin Miner Riot Produces 450 Bitcoin In June

Bitcoin Miner Riot Produces 450 Bitcoin In June

0
Cloudflare to Blocks AI Bots by Default

Cloudflare to Blocks AI Bots by Default

0
How to Deal With Negative Articles on Google

How to Deal With Negative Articles on Google

0
Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

0
Ripple Unveils New Accelerator to Boost XRP Ledger Innovation in DeFi and AI

Ripple Unveils New Accelerator to Boost XRP Ledger Innovation in DeFi and AI

0
Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

July 5, 2025
Ripple Unveils New Accelerator to Boost XRP Ledger Innovation in DeFi and AI

Ripple Unveils New Accelerator to Boost XRP Ledger Innovation in DeFi and AI

July 5, 2025
Nano Labs Buys  Million in BNB, Grows Digital Reserve to 0 Million

Nano Labs Buys $50 Million in BNB, Grows Digital Reserve to $160 Million

July 5, 2025
Squeeze a Whole Business Book into Your Lunch Break

Squeeze a Whole Business Book into Your Lunch Break

July 5, 2025
Crypto Market Cap On Track To .5 Trillion As Q3 2025 Unfolds

Crypto Market Cap On Track To $4.5 Trillion As Q3 2025 Unfolds

July 5, 2025
Bitcoin Price Could Resume Uptrend If 5,000 Support Holds — Here’s How

Bitcoin Price Could Resume Uptrend If $105,000 Support Holds — Here’s How

July 5, 2025
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at SB Crypto Guru News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.