Tether Blacklists The Address Of Stolen $20 Million USDT
Zero transfer scammer successfully stole $20 million USDT and that is immediately blacklisted by Tether. It is good to know that scammers cannot use the USDT that they stole by zero transfer phishing attacks. This kind of phishing attack started in December 2022 and scammers stole more than $40 million.
Crypto detective ZachXBT is well known for investigating and exposing scams and exploits. The speed of taking action against stolen USDT from Tether is unusual. It was very fast. ZachXBT is curious to know who this individual is. The company blacklisted the address pretty fast within 1 hour.
According to blockchain security firm PeckShield, the victim wanted to send $20 million USDT to one address but sent it to the wrong address that is controlled by scammers. The address the victim intended to send USDT is 0xa7B4BAC8f0f9692e56750aEFB5f6cB5516E90570. But mistakenly it was sent to the phishing address 0xa7Bf48749D2E4aA29e3209879956b9bAa9E90570.
If you look at both addresses, you see some first characters and last characters are the same. We usually do not check out the entire address before sending crypto. We just see a couple of first characters and last characters. And that's one of the reasons, the potential victims may fall for scams.
Scammers noticed that the victim sent $10 million USDT to a specific address. They created a similar address, you may not realize that's a wrong address at first glance. Scammers sent 0 tokens from the victim's address to the phishing address. And that transaction appears in the transaction history.
When the victim copied the address from the history, that was the scammers' address and sent $20 million USDT. Scammers fool victims with zero transfer scams. The most important thing before sending any crypto is to check out the address properly. Even if you copy the address from the history, you will not send crypto when you check it out.
It is easy to copy an address from the history. It is better to avoid this practice. You may not know whether you are the scammer's next target. Bad actors are waiting for you to make the mistake and send crypto to them. So what do you think we can do to protect against zero transfer phishing attacks?
