Data reveals that top 2 Ethereum wallets are scammers



It seems that the top 2 Ethereum gas guzzlers are both scammers.

According to recent findings by Peckshield, the top 2 Ethereum gas spenders on the ETH network are scammer wallets with 0 transfers.

The scammer wallets have become the top 2 gas spending wallets at a time when Ethereum gas prices are lowest since the 2021 bull run.

Top Ethereum wallets are scammers

Leading blockchain security company PeckShield has reported that the top 2 Ethereum wallets on the ETH network are both scammer wallets with 0 transfers.

In an era of low 27 gwei gas ($0.93 per transaction), scammer wallets are using embedded network features to trick innocent users into interacting with them, believing they’re real wallets.

Peckshield’s Twitter:

Scammers use the 'transferFrom' feature to conduct 0 transfers from ANY wallet address via a smart contract, thus making the 0 transfer show up in users' wallet records & on #etherscan. Innocent individuals may mistakenly use these scam addresses without careful examination.

The discovery may be embarrassing for cryptocurrency traders and Ethereum maxis. With gas prices at their lowest since the bull market ended, it's unfortunate that the highest gas spenders are phony scammer wallets.

In late 2022 multiple crypto hacks and scams shook the market before the FTX-Alameda collapse that really crushed the market’s morale. Most notably, Solana’s Mango Markets lost $100 million after the platform was exploited by a hacker and DeFi platform Ankr was hacked for $5 million. Even Binance wasn’t safe from the onslaught after being exploited for $566 million.

  • Read more: AllianceBlock & BonqDAO exploited for $120 million, ALBT dumps 63%

This Article's Topics

Explore new topics and discover content that's right for you!

Planet Crypto
Have an opinion on this article? We'd love to hear it!