#Phishing Scammer Steals $20 Million in USDT: Here’s What Happened
– Victim is fooled into sending USDT to a phishing address through a zero transfer phishing attack.
– Scammer conducts a zero-value token transfer from the victim’s address to their phishing address.
– Tether freezes the stolen funds and adds the scammer’s address to its blacklist.
– The speed of Tether’s response raises questions about the identity of the victim.
– Users are vulnerable to this scam because they often only check the first and last characters of an address.
Tether’s Quick Response Raises Questions
– On-chain sleuth ZachXBT finds Tether’s response unusual and wonders who the victim might be.
– Twitter user 0xG00gly is surprised by Tether’s quick action.
– ZachXBT suggests the transfer might be related to an OTC transaction.
– Circle has previously frozen transactions connected to Tornado Cash, but Tether did not follow suit.
Hot Take: The swift action taken by Tether to freeze the stolen funds demonstrates their commitment to protecting users. However, the identity of the victim remains a mystery, leaving room for speculation about the circumstances surrounding the scam. It also highlights the need for crypto users to be vigilant and verify addresses thoroughly to avoid falling victim to phishing attacks.
By
By
By
By