A Momentary Mistake Cost a Lot of Money! How an Investor Lost $3 Million in Seconds

An unfortunate incident happened to a cryptocurrency investor and his mistake cost him $3.08 million.

A cryptocurrency trader lost $3.08 million after accidentally pasting the wrong wallet address, according to a post by on-chain data analytics platform Lookonchain.

As a result, although this situation may seem simple, a momentary mistake he made cost him millions of dollars.

According to the data, the investor mistakenly transferred 7 million PYTH, equivalent to $3.08 million, to the wrong address.

According to Lookonchain, although the investor made a copy-paste mistake, a crypto scammer was also involved.

Accordingly, the scammer created a wallet address with the same first four characters as the correct deposit address to defraud investors. The scammer sent 0.000001 Solana (SOL) to the victim, creating a transaction record in the investor's transaction history. This caused the investor to make a mistake with the wallet address and lose $3.08 million.

“Make sure to double-check your address before making a transfer!

For convenience, do not copy addresses from your transaction history!

Someone who copied the wrong deposit address from transaction history lost $3.08 million.

A scammer created an address that was identical to the first 4 characters of the correct deposit address and sent 0.000001 SOL to the victim, causing the fake address to appear in transaction history.

The victim was careless and when he saw that the first 4 characters matched, he copied the address directly from his transaction history without double-checking it.

As a result, he transferred 7 million PYTH ($3.08 million) to the victim.

What a painful and expensive lesson!”

*This is not investment advice.