Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Alerts

Create2 Exploits Fuel Ethereum Theft

November 14, 2023
Reading Time: 8 mins read
in Alerts
Create2 Exploits Fuel Ethereum Theft

Cybercriminals are leveraging Ethereum’s ‘Create2’ function to compromise wallet security and pilfer cryptocurrency, resulting in the theft of $60 million from 99,000 individuals over six months. The ‘Create2’ opcode, introduced in Ethereum’s ‘Constantinople’ upgrade, facilitates the pre-calculation of smart contract addresses before deployment.

Scam Sniffer, an anti-scam initiative, revealed two methods of abuse: one involves transferring assets to pre-computed addresses after tricking victims into signing malicious transactions, while the other, named ‘address poisoning,’ generates addresses resembling legitimate ones to deceive users into sending assets to the attackers.

Despite the subtle nature of these attacks, they highlight the growing security risks associated with Ethereum’s advanced functionalities. In the illicit exploitation of Ethereum’s ‘Create2’ function, Scam Sniffer reports losses amounting to $60 million over six months, impacting 99,000 individuals. The opcode, initially introduced for its advantages in smart contract interactions, becomes a tool for cybercriminals to bypass wallet security alerts. ‘Address poisoning’ emerges as a sophisticated tactic, involving the creation of numerous addresses, allowing attackers to pick and deploy those that match their phishing requirements, resulting in significant financial losses for victims.

In the illicit exploitation of Ethereum’s ‘Create2’ function, Scam Sniffer reports losses amounting to $60 million over six months, impacting 99,000 individuals. The opcode, initially introduced for its advantages in smart contract interactions, becomes a tool for cybercriminals to bypass wallet security alerts. ‘Address poisoning’ emerges as a sophisticated tactic, involving the creation of numerous addresses, allowing attackers to pick and deploy those that match their phishing requirements, resulting in significant financial losses for victims.

Scam Sniffer identified the subtle yet effective strategies employed by attackers, including the exploitation of victims who sign malicious transactions, leading to assets being transferred to pre-calculated addresses. Another method, ‘address poisoning,’ involves creating addresses similar to legitimate ones owned by recipients, deceiving users into sending assets to malicious actors. While many attacks went unnoticed, the ones that caught community attention highlight the urgency for increased awareness and enhanced security measures to protect users from these Ethereum-based threats.

The report emphasizes the dual nature of Ethereum’s ‘Create2’ function, offering both advanced contract capabilities for developers and posing security implications and new attack vectors. The incidents underscore the need for continuous vigilance within the cryptocurrency community, prompting caution among users and developers to mitigate the risks associated with Ethereum’s evolving functionalities and the potential for malicious exploitation.

Reference:

  • Wallet Drainers Starts Using Create2 Bypass Wallet Security Alert
Tags: AttackersCreate2CryptocurrencyCyber AlertCyber Alerts 2023CybercriminalsCybersecurityEthereumNovember 2023
ADVERTISEMENT

Related Posts

W3LL Phishing Kit Steals Microsoft Logins

W3LL Phishing Kit Steals Microsoft Logins

May 20, 2025
W3LL Phishing Kit Steals Microsoft Logins

Windows 10 Intel BitLocker Bug Fixed

May 20, 2025
W3LL Phishing Kit Steals Microsoft Logins

Zoom Phishing Attack Steals Corporate Logins

May 20, 2025
Glibc Flaw Gives Linux Root Access Risk

Mozilla Urgent Firefox Patch Fixes RCE Flaws

May 19, 2025
Fileless Remcos RAT Delivery Via LNK Files

ModiLoader Malware Targets Windows Users

May 19, 2025
Glibc Flaw Gives Linux Root Access Risk

Glibc Flaw Gives Linux Root Access Risk

May 19, 2025

Latest Alerts

W3LL Phishing Kit Steals Microsoft Logins

Windows 10 Intel BitLocker Bug Fixed

Zoom Phishing Attack Steals Corporate Logins

Mozilla Urgent Firefox Patch Fixes RCE Flaws

ModiLoader Malware Targets Windows Users

Glibc Flaw Gives Linux Root Access Risk

Subscribe to our newsletter

    Latest Incidents

    Belgian mobile customers’ data leaked

    Promises2Kids Data Breach Hits Foster Youth

    RVTools Compromised With a Trojanized Installer

    Massive DDoS Hits Poland’s Civic Platform

    Arla Plant Cyberattack Halts Operations

    Georgia’s Harbin Clinic Hit by Data Breach

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial