Two major attacks on the Arbitrum network were reported by Lookonchain analysts

​More than 1 million ARB tokens were lost in phishing attacks

31.03.2023 - 12:25


6 min

What’s new? On March 31, blockchain analysts at Lookonchain reported that more than 1 million ARB tokens were lost during phishing attacks on Arbitrum network users. One attacker managed to grab 933 375 ARB, exchange them for 713 ETH (~$1,27 million), and transfer them to the Ethereum network. Another managed to grab 105 000 ARB. Analysts have not yet found out if the attacks were initiated by one person, or if they are two separate incidents.

Arbitrum is a Layer 2 (L2) network for scaling the Ethereum blockchain, developed by Offchain Labs. It uses Optimistic Rollup technology to aggregate large packets of off-network transactions from Ethereum smart contracts and decentralized applications (DApps) before sending them to Ethereum.

Количество фишинговых атак на криптопользователей увеличилось на 40% в 2022 году

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По данным «Лаборатории Касперского», от подобных мошеннических схем пострадал каждый седьмой пользователь цифровых активов

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What else is known? According to CertiK, a cybersecurity company, a phishing project website was posted on the web that advertised a fake Arbitrum account on Twitter. Certik urged users not to interact with the site and not to approve any transactions. Meanwhile, the fake phishing link was also posted on Arbitrum’s official Discord server.

Representatives of the 0xScope protocol reported on March 31 that an account, allegedly owned by South Korean exchange Upbit, accumulated 59 million ARB tokens worth about $84 million.

Analytics firm Arkham Intelligence said that bankrupt hedge fund Alameda Research, part of the FTX Group, was able to get more than 33 000 ARB tokens worth $45 000 in the airdrop held on March 23.

Previously, Arkham Intelligence warned that participants in the ARB airdrop were at risk of losing their funds. The day before, experts recorded suspicious activity on the network and noted that a hacker could implement a scheme to automatically redirect funds to his address using a smart contract.

On March 23 Arbitrum’s online resources stopped working due to a high influx of users. The project team stated that participants of the airdrop would have six months to claim their tokens.

As of March 31, 12:25 UTC, the ARB token is trading at $1,35, over the past day the value of the asset has decreased by 2,22%, according to aggregator CoinGecko.


Michael Golikov Michael Golikov

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