Fun

News Feed - 2023-08-01 08:08:17

Prashant Jha12 hours agoZero transfer scammer steals $20M USDT, gets blacklisted by TetherZero transfer scams are becoming prominent in the crypto ecosystem, with over $40 million stolen in 2023.2274 Total views7 Total sharesListen to article 0:00NewsJoin us on social networksA scammer using zero transfer phishing attack managed to steal $20 million worth of Tether (USDT) on Aug. 1 before getting blacklisted by the stablecoin’s issuer Tether.


According to an update from on-chain analytic firm PeckShield, A zero transfer scammer grabbed 20 million USDT from the victim address 0x4071...9Cbc. The intended address that the victim planned to send money to was 0xa7B4BAC8f0f9692e56750aEFB5f6cB5516E90570; however, it was sent to a phishing address instead: 0xa7Bf48749D2E4aA29e3209879956b9bAa9E90570.The zero transfer phishing scam. Source: Etherscan


The victim’s wallet address first received $10 million from a Binance account. The victim then sent it to another address before the scammer jumped in. The scammer then sent a fake Zero USDT token transfer from the victim’s account to the phishing address. A few hours later, the victim sent 20 million USDT to the scammer, thinking they were transferring it to their desired address.


The wallet was immediately frozen by USDT issuer Tether, which raised eyebrows at the speedy nature of the action.Curious who this would be if it was blacklisted within ~1 hr— ZachXBT (@zachxbt) August 1, 2023


Users generally check the first or last five digits of a wallet address, not the whole address, leading them to send the assets to a phishing address. The victim is tricked into sending a transaction for zero tokens from their wallet to an address that resembles one to which they have already sent tokens before.How a zero transfer scam works. Source: Coinbase


For instance, if the victim sent 100 coins to an address for an exchange deposit, the attacker might send 0 coins from the victim’s wallet to an address that appears similar but is controlled by the attacker. Upon viewing this transaction in their transaction history, the victim might assume that the address displayed is the proper deposit address and send their coins to the phishing address.


Related:Is SBF secretly behind BALD? Crypto Twitter debates latest conspiracy


Zero transfer phishing scams have become quite prominent in the crypto ecosystem over the past year, with multiple instances coming to light. One of the first instances of a zero transfer scam occurred in December 2022, with over $40 million in losses to such attacks since.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:How smart people invest in dumb memecoins — 3-point plan for succes# Blockchain# Cryptocurrencies# Phishing# Ethereum# ScamsAdd reactionAdd reactionRelated NewsWhat is an atomic swap, and how does it work?How to understand and interpret ChatGPT’s outputWe need to fundamentally change how smart contracts operateCrypto lender Geist Finance shuts down permanently over Multichain hackConnext, Alchemix launch cross-chain token standard to reduce bridge exploit lossesEra Lend on zkSync exploited for $3.4M in reentrancy attack

News Feed

Arijit Sarkar1 hour agoTikTok launches text posts feature to rival Twitter and ThreadsJust 20 days after Mark Zuckerberg’s Meta launched Threads to rival Elon Musk’s X, TikTok joined the race by allowing users to cre
US Fed analysts warn foreign CBDCs and stablecoins could lead to ‘erosion of dollar’s role’
Tristan Greene7 hours agoUS Fed analysts warn foreign CBDCs and stablecoins could lead to ‘erosion of dollar’s role’According to the paper, a large, stable foreign CBDC is unlikely to affect the dollar’s utility
Over 300 NFTs From Three Arrows Capital’s NFT Fund Moved by Liquidator to New Wallet
Over 300 NFTs From Three Arrows Capital’s NFT Fund Moved by Liquidator to New Wallet Hundreds of non-fungible tokens (NFTs) collected by Starry Night Capital have been transferre
Bitcoin To Smash $100,000? Rapid Stablecoin Exchange Inflows Continue
Este artículo también está disponible en español. On-chain data shows exchanges have continued to receive stablecoin deposits recently, a sign that could be bullish for B
Bitcoin, Ethereum Technical Analysis: BTC, ETH Surge to Start the Weekend, Following Friday’s Payrolls
Bitcoin, Ethereum Technical Analysis: BTC, ETH Surge to Start the Weekend, Following Friday’s Payrolls Bitcoin moved closer to the $17,000 level to start the weekend, as traders
Premier P2E NFT Character Drop by Funganomics Announced as Saturday 18th December
Premier P2E NFT Character Drop by Funganomics Announced as Saturday 18th December press release PRESS RELEASE. One of the most highly anticipated NFT character drops in the Play2Ear
Mad Money Jim Cramer ‘Begs’ Crypto Investors to Take Profits — Says ‘I Don’t Want You to Lose Money’
Mad Money Jim Cramer "Begs" Crypto Investors to Take Profits — Says "I Don"t Want You to Lose Money" The host of Mad Money, Jim Cramer, is begging crypto investors to take profit
Ethereum’s supply has been inflating for 73 days straight
Tom Mitchelhill5 hours agoEthereum’s supply has been inflating for 73 days straightThe supply of ETH has gradually increased since mid-April, with the Dencun upgrade decreasing competition for block space on the mainne
Announcement of Establishment of CA GameFi, Inc․ For Developing Blockchain Games in the Global Market
Announcement of Establishment of CA GameFi, Inc․ For Developing Blockchain Games in the Global Market press release PRESS RELEASE.CA GameFi Inc., (headquartered in Shibuya-ku, Tok
BitcoinUSD․com Launches a Market Watch Site
BitcoinUSD․com Launches a Market Watch Site press release PRESS RELEASE.BitcoinUSD.com, a website developed to educate the public on crypto exchanges and current prices, launched
On-Chain Data Signals Key Test For Solana At $135 Level – Insights
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Lionel Messi promotes Solana memecoin on Instagram
Vince Quill4 hours agoLionel Messi promotes Solana memecoin on InstagramThe soccer legend touted Watercoin, a memecoin purportedly focused on raising awareness and providing solutions for ecological issues.3594 Total vie