According to blockchain security organization CertiK, a crypto user lost $68 million worth of Wrapped Bitcoin (WBTC) assets after falling victim to an address similarity exploit.
The address poisoning exploit is known as spoofing the first and last six digits of the real wallet address, encouraging the victim to send money to the wrong wallet address.
So how did this happen?
Beware of wallet addresses, you can be scammed at any moment!
A crypto user interestingly sent $68 million worth of Bitcoin (BTC) to another address. The user fell victim to a meticulously crafted scam.
The user inadvertently sent 1,155 Wrapped Bitcoins (WBTC) to the exploiter's wallet. Scam Sniffer and CertiK confirmed that the user was exploited given the address poisoning.
The victim had previously sent 0.05 ETH to a wallet address. The abuser spoofed the wallet address that received the 0.05 ETH and made a null transfer to the victim. In the transaction history, the wallet that received 0.05 ETH and the wallet of the abuser who impersonated the wallet that received 0.05 ETH overlapped.
Thus, when the victim wanted to send $68 million in WBTC to the same address to which he had sent 0.05 ETH, he mistakenly selected the impersonator's address and sent it to that address.
The victim's careless loss of $68 million made waves in the crypto industry. Experts stated that such exploits are becoming more common day by day and that care should be taken in transfer transactions.
It is of great importance to check the entire wallet address when transferring assets from the transaction history.
