A devastating crypto scam has left a victim suffering losses of over $843,000 by copying a tainted wallet address. The incident, reported today by Scam Sniffer, a Web3 security firm, reveals the growing cunning of cybercriminals targeting crypto users. The victim, unaware of the manipulation, sent funds to a fraudulent address embedded in their transfer history.
Double Error, Double Loss
The victim, preparing a crypto transfer, copied an address from their wallet’s transaction history, believing it was legitimate. Unbeknownst to them, hackers had infiltrated the system, planting a malicious address in the transfer log. The $843,000 transaction was sent directly to the scammer’s wallet, with no immediate way to recover it.
Hours later, the same victim, still unaware of the breach, sent another $1.7 million to the same fraudulent address. This double loss exposed the sophistication of the attack, exploiting trust in routine crypto processes.
Crypto Scams On the Rise
The financial blow left the victim with a staggering $2.54 million loss, shaking confidence in crypto security practices. Sources note that such incidents are becoming more prevalent, targeting unsuspecting users with advanced tactics.
Past cases of well-calculated scams on individuals and firms alike have raised security eyebrows. For example, on April 28, 2025, an elderly American fell victim to a $330 million Bitcoin scam, marking one of the largest crypto thefts ever experienced by a single individual. The attacker used social engineering tactics to trick the victim into handing over access to a wallet holding 3,520 Bitcoin, valued at $330.7 million.
Another trader also fell victim to a phishing attack, losing a shocking $1.43 million. It all started when the trader received a fake email claiming to be from a trusted crypto exchange. The email claimed the trader’s account was at risk and urged them to click a link to “secure” it. The link led to a fake website that looked real, where the trader entered their private keys and wallet details. Within minutes, the attackers drained $1.43 million in Bitcoin from the trader’s wallet.
Hackers have swiftly adapted, moving from phishing emails to sophisticated address manipulation, catching even savvy users off guard.
