A wallet of some unknown trader has lost more than 97% of its portfolio after a cyber attack.
How did it happen in this case?
In this case, the trader unknowingly received WBTC from a compromised address. While trying to move his funds, he also moved the tainted $WBTC which triggered the malicious smart contract and drained his funds.
The loss of USD 68 million is a severe blow to the individual trader and serves as a warning to all cryptocurrency users. It is crucial to take proactive steps to protect your digital assets and be aware of the potential risks involved in this constantly evolving space.
Here are some tips to protect yourself from address poisoning scams:
🔸Beware of unknown addresses: don't send or receive cryptocurrencies from addresses you don't recognize.
🔸Double-check transactions: Before confirming any transaction, be sure to carefully verify the destination address and amount.
🔸Use reputable wallets: Store your cryptocurrencies in reputable hardware or software wallets that implement strong security measures.
🔸Stay informed: Stay up to date on the latest scams and attack methods in the cryptocurrency space.
Sources of information:
https://twitter.com/CyversAlerts/status/1786363410243858869
https://coinstats.app/address/0x1E227979f0b5BC691a70DEAed2e0F39a6F538FD5/