Over 1M Arbitrum tokens lost to phishing attack Over 1M Arbitrum tokens lost to phishing attack
On-chain investigator Lookonchain incorrectly tagged wallet one of the Arbitrum exploiter wallet "0xbd4E" as a "super airdrop hunter."
2 min read
Updated: Mar. 31, 2023 at 5:24 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Two malicious players have stolen over a million Arbitrum (ARB) tokens, blockchain security firm Peckshield reported on March 31.
According to the report, a wallet “0xbd4E” connected to an exploiter converted 933,375 ARB to 713 Ethereum (ETH) — worth $1.27 million — and bridged those tokens to Ethers mainnet.
Another wallet — “0x7AFd,” which stole 105,000 ARB tokens — transferred the ill-gotten wealth to two new addresses — “0xC4cf” and “0xB209.”
It was unclear if the two wallets were connected to the same exploiter as of press time.
Meanwhile, on-chain investigator Lookonchain incorrectly tagged wallet “0xbd4E” as a “super airdrop hunter.” A victim, Henry said they lost 7250 ARB tokens to the hacker.
Another blockchain security firm Certik reported a phishing site advertised by a fake Arbitrum Twitter account. On March 25, Certik said a fake phishing link was posted on Arbitrum’s official Discord Server.
Is Upbit accumulating ARB?
Meanwhile, web3 knowledge protocol 0xScope reported that an externally owned account (EOA) suspected to be UPbit collected a “massive” amount of ARB in the past day.
According to on-chain data, the wallet now holds 59 million tokens worth $84.4 million.
If 0xScope’s assumption is right, the Korean exchange holds the second most ARB tokens after Binance.
Bankrupt Alameda claims over 33,000 ARB tokens
According to Arkham Intelligence, crypto wallets connected to bankrupt crypto firm Alameda Research claimed 33,125 ARB tokens — worth $45,000 — from the March 23 airdrop.
Arkham tweeted that one of the bankrupt’s firm accounts — “0xc5e” — received the maximum allocation of 10250 ARB. The other four accounts received between 2,125 – 8,750 tokens.
The firm’s administrators have been consolidating the bankrupt firm’s assets from different on-chain sources in one wallet after it collapsed in November 2022.
Arbitrum price down 3%
ARB is down 2.72% in the last 24 hours to trade at $1.35141 as of press time, according to CryptoSlate data.
The layer2 network token experienced a heavy sell-off after its launch on March 23, but its price has begun to stabilize over the past few days.
The token is ranked among the top 40 digital assets by market cap with a valuation of $1.7 billion, according to CryptoSlate data.
Meanwhile, the network remains the most popular layer2 solution with over $6 billion worth of assets locked on it, according to L2beat.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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