$ 108,897.2
$ 2,609.96
$ 0.5857
$ 661.12
$ 151.54
May 11, 2024
by Sujit Kumar
Hacker Partially Refunds $71 Million Stolen in Phishing Attack
Table of contents
A trader loses 1,155 WBTC worth $71 million in a phishing attack, showcasing the evolving sophistication of cybercriminal tactics in the crypto space.
Address Poisoning Strategy
The scammer employs address poisoning, creating a fake address similar to the victim's and tricks them into transferring funds, highlighting the vulnerabilities in crypto transactions.
Unprecedented Refund Gesture
In an unexpected turn, the hacker initiates a partial refund, returning 4,676 ETH valued at $14.2 million to the victim, raising questions about the motive behind this action.
Generosity or Strategic Move?
While the refund brings relief to the victim, it sparks speculation about the hacker's intentions—is it an act of generosity or a strategic maneuver to evade repercussions?
Lessons Learned and Community Awareness
Amid rising incidents of crypto scams, industry leaders emphasize the importance of cybersecurity measures and community awareness to safeguard against phishing attacks and fraudulent activities.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.