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A crypto scam that doesn’t need private keys: How does zero-value transfer work?

cryptoweekly by cryptoweekly
June 9, 2025
in bitcoin, News
0

A crypto investor lost $2.6 million in hours, falling victim to a zero-value transfer scam, a type of address poisoning scam.

On May 26, 2025, a crypto investor fell victim to a series of onchain phishing attacks. Crypto compliance firm Cyvers announced that the victim lost a total of $2.6 million worth of cryptocurrencies.

It all started when the user sent 843,000 Tether USDt (USDT) to an address other than the intended recipient. Just three hours later, the user sent 1.75 million USDT more to the same address. The result: All of it was lost in hours.

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  • Republicans propose 7% leaner SEC budget compared to Biden’s era
  • Chinese pork producer turned BTC miner kicks off Dogecoin plan
  • Eric Trump takes victory lap 5 months after telling everyone to buy ETH
  • Cathie Wood sells Coinbase, Roblox shares for Tom Lee’s ETH firm
  • Ether Machine founder claims ETH outperformed BTC over past 10 years
  • Ether Machine founder claims ETH outperformed BTC over past 10 years
  • Roman Storm could go for mistrial over scam victim’s testimony: Report

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