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Blockaid
@blockaid
Since January 1st of this year, there have been over 105,000 dust attacks, resulting in 33 incidents that collectively lost 591 ETH (~$1.7M). Including one attack that represented a loss of 261 ETH and another that resulted in the loss of 136.7 ETH. 🧵
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Blockaid
@blockaid
(2/9) But what is a dust attack? Essentially dust attack involves tiny, unsolicited cryptocurrency transactions sent to multiple wallets. The attackers ultimately hope to trick users into interacting with these small deposits, which could expose them to vulnerabilities.
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Blockaid
@blockaid
(3/9) These dust transactions emanate from addresses that match the first and last characters of the fake address to legitimate addresses previously transacted with by a given user. This sophisticated method targets wallets engaged in high-value Ethereum transactions.
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Blockaid
@blockaid
(4/9) The dust addresses send back a fixed portion of the value from the targeted transaction using a counterfeit address, intending to deceive users into mistakenly using this fake address for future transactions, potentially leading to significant loss of funds.
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Blockaid
@blockaid
(5/9) Here’s a live example of the user who was tricked into sending 50ETH to an attacker’s fake address:
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Blockaid
@blockaid
(6/9) We first see a Legitimate transaction https://etherscan.io/tx/0xfa832644aebf26ab93073d7dd019340634e09e7a301005535973971ea72de321 where the victim (0x16287a517499a467A349b70764A4ecAE56D1d2c9) sent 25.81 ETH to a legit destination (0x4f512126668388328EeA49732DE1249bf86Eb8Ea).
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Blockaid
@blockaid
(7/9) Shortly thereafter we see a ‘dust transaction’ https://etherscan.io/tx/0x9660541a9ec5b504b2c6efe72b524ed1a0c51d9edea9923ef433ac169418c885 where a fake dust address (0x4f512487a746AB1638B5fFb0D8321dBDFA6Fb8eA) similar to the previous transaction destination sent a small amount of ETH to the victim address.
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