An unfortunate incident that happened to a cryptocurrency investor caused him to lose $3.08 million.
A cryptocurrency investor lost $3.08 million after accidentally pasting an incorrect wallet address, on-chain data analytics platform Lookonchain has revealed.
Although this incident may seem like a simple mistake, a momentary oversight by the investor cost him millions of dollars.
According to the data, the investor mistakenly transferred 7 million PYTH tokens worth $3.08 million to the wrong address.
According to Lookonchain, although this error was entirely due to a copy-paste error, a fraudster was also at play.
To trick the investor, the scammer created an address that had the same first four digits as the correct deposit address. The scammer added a transaction record to the investor’s transaction history by sending 0.000001 Solana (SOL). This caused the investor to make a mistake with their address and lose a large amount of money.
"Make sure to double-check your address before making any transactions!
For convenience, do not copy addresses from your transaction history!
An investor lost $3.08 million by copying the wrong deposit address from his transaction history.
The scammer created a fake address by mimicking the first four characters of the correct address and sent 0.000001 SOL to the victim, which caused the fake address to appear in their transaction history.
The victim thought that the first four characters in the transaction history were correct and copied the address without checking it and made the transaction.
As a result, 7 million PYTH ($3.08 million) was transferred to the wrong address.
A painful and expensive lesson indeed!”