A cyber wallet has suffered a significant loss of $69.3 million in Wrapped Bitcoin (WBTC) due to a clever attack on its address, according to blockchain security firm CertiK. Address poisoning, a common scamming technique, involves sending a small amount of cryptocurrency to a wallet that resembles the recipient’s address. This deceptive tactic tricks users into copying the scammer’s address from their transaction history, resulting in funds being sent to the wrong wallet. In this case, a scammer pretended to transfer 0.05 Ethereum (ETH), which caused the victim to mistakenly send 1,155 WBTC worth $69.3 million to the incorrect address. WBTC is an ERC-20 token linked to the price of BTC, enabling traders to speculate on Bitcoin while operating within the Ethereum ecosystem. At the time of writing, WBTC is trading at $62,953, experiencing a nearly 7% increase in the past 24 hours. The perpetrator promptly exchanged the stolen WBTC for 23,000 ETH, which currently trades at $3,116 and has risen more than 4% in the past 24 hours. It is crucial for investors to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets as they are solely responsible for any losses incurred. The Daily Hodl, where this article is published, does not provide investment advice or recommend the buying or selling of cryptocurrencies or digital assets.
