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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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Recent Posts
  • A crypto scam that doesn’t need private keys: How does zero-value transfer work?
  • Australia unmasks $123M crypto laundering ring behind security firm
  • XRP price will hit $25 if ETF approved, then crash 90%, new analysis says
  • Ethereum privacy roadmap proposes EU GDPR-safe blockchain design
  • Strategy adds 1,045 Bitcoin for $110M in latest purchase
  • Kenya’s crypto tax could hinder Africa’s digital growth opportunity
  • Kaia pledges won-pegged stablecoin as South Korean payment stocks rally

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