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 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.
