How a Hacker Returned $71 Million of Crypto to Phishing Victim: An Analysis

Sunday, 12 May 2024, 18:10

A whale lost 1,155 Wrapped BTC (WBTC), valued at $71 million, in a phishing attack but surprisingly, the attacker returned all the funds a week later. The attack employed 'Address Poisoning,' a sophisticated technique that disguises phishing addresses. The victim's vigilance and cybersecurity efforts led to the return of the stolen funds.

https://store.livarava.com/254a5483-108b-11ef-a6c2-63e1980711b2.jpg — How a Hacker Returned $71 Million of Crypto to Phishing Victim: An Analysis

Address Poisoning Attack:

The phishing attack used the 'Address Poisoning' technique to deceive the victim. The attacker's phishing address resembled the victim's new address, leading to a transfer of 1,155 WBTC.

Attacker Returns Funds:

The attacker swiftly converted the stolen WBTC into 22,960 ETH for potential laundering. After being tracked by cybersecurity firm Slow Mist, the attacker, based in Hong Kong, returned all funds.

Check entire addresses carefully during transactions.
Save trusted addresses in your address book and copy from there.
Enable small transaction filtering in wallets to catch phishing attempts.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Address Poisoning Attack:

Attacker Returns Funds:

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