• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Cryptocurrency Investor’s Copy-Paste Nightmare! The Cost of a Small Mistake is 3.08 Million Dollars!
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Security & Hacks > Cryptocurrency Investor’s Copy-Paste Nightmare! The Cost of a Small Mistake is 3.08 Million Dollars!
Security & Hacks

Cryptocurrency Investor’s Copy-Paste Nightmare! The Cost of a Small Mistake is 3.08 Million Dollars!

vitalclick
Last updated: December 4, 2024 2:31 pm
4 months ago
Share
SHARE

A mistake in the cryptocurrency market cost an investor $3.08 million. Bitcoin $96,937While the excitement of investors increased as . Lookonchain announced this tragic incident on the X platform and warned crypto users to pay attention to address checks.

Copy-Paste Error and the Role of the FraudsterBlockchain Security and Attention Deficit

Copy-Paste Error and the Role of the Fraudster

According to the information provided by Lookonchain, the investor sent 7 million PYTH ($3.08 million) to an incorrect wallet address. The reason for the error was carelessness while copying the address from the transaction history. Besides this, the fraudster also played an important role in this incident. He misled the victim by creating a fake wallet address. The fake address had the same first four characters as the real address. Additionally, the scammer made the transaction look real by sending a small amount (0.000001 SOL) to the victim. This method led the investor to trust the fake address.

The irreversibility of blockchain transactions made this error even more irreversible. This incident once again demonstrated that each step in crypto transfers should be carefully reviewed.

Blockchain Security and Attention Deficit

Irreversible transactions in the crypto world bring severe consequences of such mistakes. Experts recommend investors to check the addresses carefully before trading. In particular, it is stated that copying addresses from transaction history carries great risks.

Lookonchain says, “Double check the address before transferring! Transfers made to an incorrect address cannot be compensated.” He warned investors. In a similar incident before, another investor sent $25 million worth of Renzo Restaked ETH to the wrong module.

These events show that crypto investors need to increase not only their technological knowledge but also their attention level. Double-checking each transaction can prevent potential losses. It is critical not to neglect the verification process, especially in transactions with large amounts.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

You Might Also Like

Major Crypto Attack on This Altcoin! Suspicious Transactions and Losses Are Increasing

Was Ledger Founder Eric Larcheveque Kidnapped?

The founder of Altcoin suffered a million dollar loss due to a security vulnerability

Avalanche, Polygon, and zkSync Discord Accounts Hacked

What is Rug Pull? –

TAGGED:Security
Share This Article
Facebook Twitter Email Print
Previous Article Binance Founder CZ Warned: iPhone and MAC Users Attention!
Next Article FLOKI, LUNA, CEEK and SHIB November Price Predictions
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?