Kind Scammer Refunds User’s $129M Within an Hour of Transfer.

This anonymous trader lost $129M to a scammer after copying the wrong address from their transfer history assuming it was correct before sending it to an entirely different address.

Furthermore, instead of sending the funds to their intended destination, TMStAjRQHDZ8b3dyXPjBv9CNR3ce6q1bu8, the user mistakenly copied THcTxQi3N8wQ13fwntF7a3M88BEi6q1bu8.

However, this narrative possesses a surprising twist. Within a single hour of the erroneous transfer, the funds were returned to the rightful owner. While the exact circumstances surrounding the return remain undisclosed, the speed and efficiency of the recovery are remarkable.

Nonetheless, “the inherent irreversibility of blockchain transactions necessitates an unwavering commitment to precision and vigilance. Double-checking, triple-checking, and even employing verification mechanisms are crucial safeguards against such costly errors,” an X user known as TradeKing says

A Trader Lost $11 Million to Scammer

A MakerDAO governance delegate suffered an $11 million loss of aEthMKR and Pendle USDe tokens in a sophisticated phishing attack targeting their DeFi wallet, address 0xfb…accfa. Scam Sniffer identified the attacker, address 0x73…bb96, exploiting multiple Permit signatures to drain the victim’s assets.

Notably, the incident, following recent reports of USDT-related email hacks at cryptocurrency exchanges, highlights the escalating sophistication and pervasive nature of malicious activity within the decentralized finance (DeFi) ecosystem.

The attacks raise concerns about market manipulation; one X user noted the worrying trend of “quick pump” mentalities prioritizing short-term gains over crucial security measures, creating an inherently vulnerable ecosystem.

Another user expressed suspicion regarding the depth of manipulation, linking the incident to the previous USDT email hacks, emphasizing the need to take such attacks seriously.

Another X user advocated for prioritizing security and human-readable transactions, highlighting “Radix as a preferred alternative due to its focus on security over potentially compromising scalability in his opinion”.

Phishing Attacks on Victims Rose by 20%

According to an October 2024 report from Scam sniffer, Phishing scams decrease despite a rise in the number of victims. Approximately 12,000 individuals fell prey to these attacks, resulting in a collective loss of $20.2 million, representing a notable 56% decrease in stolen funds compared to the preceding month.

Nonetheless, Phishing scams see a 20% increase in victims—highlighting evolving tactics and vulnerabilities within the cryptocurrency ecosystem.

A victim reportedly lost $723,000 after interacting with a compromised website affected by the Lottie Player supply chain vulnerability. This attack underscores the vulnerability of even seemingly secure platforms and the potential for widespread impact when supply chain integrity is breached.

October’s largest single incident involved a loss of $5.87 million, this involved a victim who unwittingly participated in a fraudulent re-staking of fwDETH tokens on the Blast chain, a transaction facilitated through a malicious Permit signature.