Crypto Trader Duped: $68M in Wrapped Bitcoin (WBTC) Lost to Address Poisoning Scam

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An unidentified trader has reportedly lost $68 million in Wrapped Bitcoin (WBTC) due to an address-poisoning scam, as per cybersecurity firm Cyvers. The victim's wallet was drained of over 97% of its total assets, leaving them with a mere $13.56 worth of ETH. This incident is part of a series of address-poisoning scams, which exploit traders' haste and negligence during transactions.

A trader has fallen victim to an address-poisoning scam, losing $68 million in Wrapped Bitcoin. This incident highlights the ongoing risks in the crypto space, despite declining scam rates.

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Address Poisoning Scams: A Persistent Threat
Address poisoning, also known as address spoofing, is a scamming technique that tricks victims into sending their digital assets to fraudulent addresses. This method has been used in several scams, including an instance in October 2023 where a hacker stole $1.2 million worth of ARB tokens... Read the full article for FREE at COINOTAG!