Hacker targeted 2,400 wallets on Arbitrum network and used the airdrop buzz to trick users.
Arkham advised users not to interact with suspicious addresses (0x59d4087f3ff91da6a492b596cbde7140c34afb19) to prevent loss of funds.
Hackers are using honeypots to exploit the hype around airdrops and DeFi projects, putting users at risk of financial loss.
Over the last 12 hours, there have been reports of a hacker targeting roughly 2,400 wallets on the Arbitrum network by transferring funds to these wallets, which are believed to have been compromised. It appears that the attacker is capitalizing on the current buzz surrounding the Arbitrum airdrop and is tricking unwary users into falling into a trap.
According to recent reports, the hacker has been transferring funds to wallets that subsequently authorize the ARB token, expecting to obtain the airdrop. The address linked to these transactions, 0x59d4087f3ff91da6a492b596cbde7140c34afb19, is considered suspicious. The community strongly recommended that users refrain from engaging with this address, as doing so may lead to the loss of their funds without actually receiving the airdrop.
gmA reported hacker on Arbitrum has been sending money over the past 12 hours to around 2400 presumably compromised wallets.These wallets then approve the ARB token in anticipation of receiving the airdrop.address – 0x59d4087f3ff91da6a492b596cbde7140c34afb19Stay safe!
— Arkham (@ArkhamIntel) March 20, 2023
The occurrence emphasizes the increasing tendency of hackers to establish honeypots that exploit the current hype around airdrops and DeFi initiatives. Unwary users who are lured by the possibility of obtaining complimentary tokens might inadvertently engage with these harmful addresses, leading to substantial financial damages.
Moreover, to safeguard themselves against such attacks, users must always validate the legitimacy of airdrop announcements and related addresses. It is critical to rely on official sources and avoid interacting with suspicious addresses without proper verification. Moreover, users should maintain secure wallets and be cautious of any unexpected transfers, even if they appear to be associated with a seemingly legitimate airdrop event.
The recent hacker activity on the Arbitrum network serves as a reminder for users to exercise caution in the fast-evolving world of cryptocurrencies and DeFi initiatives. Ensuring that one’s wallet and funds are secure, as well as verifying the authenticity of airdrop events, can help prevent falling victim to such attacks.
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