A scammer who had successfully stolen nearly $3.4 million in cryptocurrencies fell victim to a hacker during a front-running sandwich attack.
- Cybersecurity firm PeckShield detected a case of a scammer stealing nearly $3.4 million in cryptocurrencies through a phishing scam and then falling victim to a hacker in a sandwich attack.
- The sandwich attack is a form of front-running that involves strategically targeting decentralized finance (DeFi) protocols and services by manipulating asset prices through simultaneous front-running and back-running maneuvers.
- In this attack, the malicious actor first identifies pending transactions and places orders to precede and follow them closely. This “sandwiches” the original transaction, allowing the attacker to manipulate asset prices.
- The attacker then acquires the asset the victim intends to swap to, anticipating an increase in its value.
Scammer Loses Stolen Funds
A scammer stole $3.4 million in cryptocurrencies through a phishing scam but fell victim to a hacker during a sandwich attack, highlighting the risks in the crypto space.
Scammers…. HOW DID YOU GET HERE….— DeepReviewTv 🎙️📺📈 (@DeepReviewTv) November 15, 2023
NO ONE SHOULD INTERACT WITH HELP LINK THIS SCAMMER IS PROPOSING. ELSE YOUR WALLET WOULD GET HACKED
The sandwich attack is a form of front-running targeting DeFi protocols, where attackers manipulate asset prices by placing orders to precede and follow pending transactions.
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