Hacker Drains Over $2 Million from Safe Wallet- What’s Going On?
A malicious actor has stolen over $2 million from Safe Wallet users in the past week through address poisoning theft raising the total victim count to 21.
Several blockchain security firms have tracked suspected activity from different transactions resulting in losses from Safe Wallet totaling $2 million.
On Dec 3 cryptocurrency scam detection platform, Sacm Sniffer wrote on X (formerly Twitter) that about 20 wallets have lost $2.05 million last from address poisoning attacks adding that the same attacker was responsible for draining $5 million from 21 users in the last four months.
about ~10 Safe wallets have lost $2.05 million to "address poisoning" attacks in the past week.
the same attacker has stolen $5 million from ~21 victims in the past four months so far. pic.twitter.com/fu4kxaI3py
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) December 3, 2023
Dune analytics also reported the development from Scam Sniffer posting the affected wallets and time range of stolen assets with the source pointing to address poisoning.
Address poisoning is an old tactic deployed by bad actors to deceive users into sending assets to the wrong wallets. It entails a hacker creating an almost similar address usually with the same start and end characters.
The scammer then proceeds to “poison” the transaction history by sending funds of almost similar amounts regularly to the destination wallet in a bid to make the victim copy the scammer’s wallet from the transaction history and send new funds to the address.
Last week, Scam Sniffer also reported another case of address poisoning involving a bad actor carting away $1.5 million worth of assets. Florence Finance is reported to have the funds from Safe Wallet to the address that contaminated the
