Vanity addresses used in stealing $500,000 worth of $ARB tokens following Arbitrum airdrop.
A vanity address is a customized cryptocurrency address containing specific words or phrases chosen by the user, aiming to make them more personal and easily identifiable. However, the safety of vanity addresses is questionable.
The tweet explained that the tokens were stolen by someone who compiled vanity addresses that were eligible to receive ARB tokens, then generated similar addresses using vanity address generators, directing the airdropped tokens to them instead. The hacking of these vanity addresses makes it impossible for the original owners to claim their ARB tokens.sadness as they tweeted about their stolen ARB tokens.
Creating a vanity address requires using special software or services that could potentially compromise the security of users’ private keys. Hackers who gain access to the private key could steal any crypto assets tied to that address.Arbitrum’s token giveaway caused a lot of excitement and overwhelmed several websites. However, according to the blockchain analytics platform Nansen, 428 million ARB tokens are still available to claim.
Considering these figures, certain eligible addresses that haven’t been able to claim their token could be in the category of hacked addresses. This isn’t the first time scammers have compromised vanity addresses in the crypto space. In January,
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