Hacker exploits upcoming ARB airdrop

Reports indicate that a hacker has sent gas to about 2,400 crypto wallets in preparation for the upcoming Arbitrum ARB airdrop. 

Phishing, scamming, and exploitation activities have always surged in crypto, especially during airdrops. Incoming reports indicate that a hacker’s wallet has been sending gas to crypto wallets with plans to exploit them in the name of Arbitrum airdrops.

Hacker prepares for ARB airdrop

A recent tweet by Arkham (@ArkhamIntel) indicated that a hacker has recently sent money (gas) to about 2400 wallet addresses. The receiving wallets then approve some ARB tokens, as they are already awaiting an airdrop. This gas sent to the wallets will help receive and send out the ARB airdrop. 

The hacker’s address is 0x59d4087f3ff91da6a492b596cbde7140c34afb19, based on Akhram’s tweet. 

Nansen has marked the hackers’ wallet address as an Arbitrum Airdrop Exploiter. Based on the reports, the wallet is targeting close to 1.5 million ARB tokens. 

A crypto user @NTFS64 asked for further clarity, posing, “How can we approve the arb token on our private addresses?” Akhram noted that once the gas is sent to the contract, this transaction gives the hacker’s contract room to move ARB tokens from the prey’s wallets.

Furthermore, based on reports, the hacker authorized ARB after accessing the 2400 wallets’ private keys. Akhram noted that the affected wallet holders should revoke the authorization for ARB.

When discussing the subject, a certain crypto user @1hatecollege said Arbitrum should ban the 2400 compromised wallets from receiving any upcoming airdrops.

ARB airdrop opens opportunities for scammers

According to recent reports, the Arbitrum network has been preparing an airdrop to launch a new token in its mission to transition into a DAO. This airdrop brings the ARB token, which allows the average user to vote on any network changes.

The ARB airdrop will be carried on in March 23, according to reports.

Recently, crypto.news reported that the Arbitrum community was warned against fake airdrops. Redefine even alerted investors of a fake website impersonating the Arbitrum airdrop site.

Certik, another blockchain security explorer, even mentioned a fake Arbitrum Twitter page.