Cyvers in the News

Crypto user loses $69.3m to address poisoning scammer

On-chain investigator ZachXBT and crypto security provider Cyvers corroborated the news. ^{Cyvers CTO Meir Dolev said the case was “probably the highest value lost due to an address poisoning scam” to date.}

Crypto trader loses $70.5 million in address poisoning scam, highest recorded yet

^{Blockchain security firm Cyvers Alert reported} that an unnamed crypto trader lost 1,155 Wrapped Bitcoin (WBTC), equivalent to $70.5 million worth, to address poisoning.

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The modus operandi involves creating addresses strikingly similar to the target’s, employing identical starting and ending characters to deceive unsuspecting victims.

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Pike Finance Suffers Double Attack in 3 Days, Loses $1.98M in Smart Contract Exploit

^{A recent report by Cyvers Alert, a blockchain security and analytics firm, revealed a troubling discovery}: the hacker managed to exploit vulnerabilities in smart contracts across three different chains – Ethereum, Arbitrum, and Optimism – all on April 30.

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The attacker gained control over the output address within Pike Finance’s smart contract, orchestrating a significant transfer of cryptocurrency to their own account. The damage totaled $1.4 million in Ether (ETH), $150 thousand in Optimism (OP) tokens, and over $100 thousand in Arbitrum (ARB) tokens.