Hackers Loot $500K From Arbitrum Airdrop Using Vanity Addresses

• Hacked vanity addresses were used to loot $500K worth of tokens during the Arbitrum airdrop on March 23.
• Someone who generated a list of eligible vanity addresses stole the tokens, and the original owners are no longer able to claim them.
• Around 428 million ARB tokens still remain unclaimed, with a value of $596 million.

Arbitrum Airdrop Controversy

According to recent on-chain data, hacked vanity addresses were used in looting $500K worth of tokens during the layer-2 scaling solution Arbitrum airdrop scheduled on March 23. Someone who generated a list of vanity addresses that were eligible for ARB airdrops was the one who stole the tokens. The tweet explained that the tokens had been stolen by an individual who had first compiled a list of vanity addresses qualified to receive ARB tokens. He then managed to generate similar addresses using vanity address generators, eventually directing the airdropped tokens to these newly developed accounts instead. Since these vanity addresses were hacked, the original owners of the ARB tokens will no longer be able to claim them.

Reaction from Crypto Community

Several cryptocurrency users have taken to Twitter to express their dismay following the theft of their ARB tokens. Most of those impacted need to be more knowledgeable regarding the cause of the loss and have no idea how to respond appropriately.

Unclaimed Tokens Remain

The token giveaway hosted by Arbitrum generated a lot of buzzes and swamped several other websites; however, according to blockchain analytics tool Nansen reports that there are still 428 million ARB tokens that remain unclaimed. As of late March 22, around 61% out of eligible crypto wallets had already claimed governance token; leaving around 240,000 eligible address without claiming their share yet (37% out fo 1.1 billion). As far as value is concerned, these unclaimed coins amount up too close too $596 Million at this time writing this article

What Are Vanity Addresses?

Vanity address is basically unique crypto address which incorporate user’s chosen phrase or word – like your name or any random combination which you would like it too look like something special than just random numbers & letters combination ethereum wallet address usually looks like.. In January 2021 MetaMask users were sent warning concerning Address Poisoning and it seems fraudsters have been using this method since then in stealing cryptocurrencies form users wallets/accounts..


Cryptocurrency scams involving hacked vanity addresses are becoming increasingly common as fraudsters come up with different ways they can exploit unsuspecting victims’ funds for financial gain. It is important for crypto users and investors alike to stay vigilant and ensure that they protect themselves from such scams by not sharing sensitive information online or giving away access details for their wallets or accounts easily.

Euler Finance Hacker Launders $197M in Stolen Crypto Assets

• Euler Finance recently had over $197 million worth of ether (ETH) and other crypto assets stolen from the DeFi protocol in a flash loan attack.
• The attacker has now started mixing the stolen tokens via Tornado Cash to obfuscate the trail.
• The Euler Foundation has set aside a $1 million reward bounty for anyone who provides information that could lead to an arrest of the hackers.

Euler Finance Hacked

Euler Finance, a decentralized finance lending and borrowing protocol powered by Ethereum, was victim to a flash loan attack resulting in over $197 million worth of ether (ETH) and other crypto assets being stolen.

Hacker Obfuscating Trail

The attacker has now begun laundering the stolen tokens via Tornado Cash in order to hide their tracks. Blockchain analytics platform Lookonchain also revealed that 100 ETH was transferred to an address handled by another hacker responsible for stealing 173,600 ETH and 25.5M USDC from Ronin Bridge.

$1 Million Bounty

In response to this theft, the Euler Foundation established a $1 million reward bounty for anyone who can provide valuable information leading to the arrest of these hackers.

Continued Threats To Crypto Space

Unfortunately, hacks and heists continue to plague the Web3 space with no permanent solution in sight yet. Last year alone saw over $3 billion lost to bad actors, with several DeFi protocols already losing millions so far this year as well.

Reward For Information Leading To Arrest Of Hackers

The Euler Foundation is offering a generous reward of one million dollars for any information leading to an arrest of these hackers as they attempt to launder their stolen tokens through Tornado Cash.

SVB Bank Fails, Crypto Markets Follow: Investors Urge Removal of Assets

• Silicon Valley Bank’s parent company’s shares dropped dramatically, causing panic among traders.
• Hedge funds have recommended portfolio firms remove their cash from the bank and investigate opening multiple accounts.
• SVB is having difficulty providing banking services to cryptocurrency firms, leading them to look for other options.

Silicon Valley Bank Shares Plunge

Markets were sent crashing as Silicon Valley Bank failed to reassure customers of its financial state. The announcement followed a dramatic decrease in the shares of SVB Financial Group, the bank’s parent business, which plunged by more than 60%. This caused investors to sell their shares, resulting in a further 44% drop on March 10 pre-market trading.

Hedge Funds Urge Investors to Withdraw

Peter Thiel’s Founders Fund and Pantera Capital have both recommended that portfolio firms remove their cash from the failing Silicon Valley Bank and investigate opening several accounts instead. Furthermore, five anonymous venture capital investors in cryptocurrency have given similar advice to firms they have sponsored.

SVB Struggles with Crypto Firms

With the failure of cryptocurrency-friendly Silvergate Bank earlier this week, Silicon Valley Bank is having trouble at a time when cryptocurrency firms are already looking for other banking choices. Many users complained about difficulties logging into their accounts on Twitter, leading them to seek alternative banking solutions.

Silicon Valley Bank’s Customer Base

According to its website, Silicon Valley Bank has worked with more than 2,600 customers in the financial technology industry alone. As one of the go-to banks for venture-backed technology businesses located in the US, these difficulties could spell disaster for its customer base if not resolved quickly.

Crypto Markets Follow Stock Market Crash

The stock market crash has caused crypto markets to suffer too as venture capital investors urge companies associated with SVB Financial Group to remove their assets from the bank immediately. This suggests that crypto investors are increasingly worried about whether or not this failing institution will cause yet another collapse in crypto prices

Binance Seeks Singapore License For Institutional Crypto Services

• Binance is seeking a license to offer cryptocurrency services in Singapore for institutional clients.
• The Monetary Authority of Singapore (MAS) published proposals in October 2022 to broaden its authority in order to better protect consumers’ interests in the cryptocurrency sector.
• Binance has provided feedback on the regulator’s proposals and recommended a few changes.

Binance Seeks Singapore License

Binance is seeking a license to offer cryptocurrency services in Singapore once more, focusing on providing custodial and other digital asset services to professional investors rather than retail investors. The world’s largest crypto exchange is planning for its custodial arm, Ceffu, to apply for a permit from the local financial regulator.

MAS Proposes Enhanced Consumer Protection

The Monetary Authority of Singapore (MAS) published proposals in October 2022 to broaden its authority in order to better protect consumers‘ interests in the cryptocurrency sector. MAS proposed a ban on the use of credit lines to purchase cryptocurrencies, as well as administering assessments for retail investors prior to trading virtual tokens.

Binance Provides Feedback

Binance provided feedback on the regulator’s proposals for enhanced consumer protection, recommending a few changes such as adopting a calibrated approach when it comes to protecting clients from the risks of unregulated leverage.

Increasing Regulatory Scrutiny

Increased scrutiny has raised concerns about Singapore’s ability remain an appealing location for digital assets at a time when other hubs like Hong Kong are attracting investment. Despite this, Binance appears committed valuing even limited commercial presence in Southeast Asia by investing efforts into securing its license despite regulatory scrutiny.


As one of Asia’s leading financial hubs with reputation for innovation and good corporate governance, Singapore remains attractive digital asset option for institutional investors seeking secure custodial and digital asset services. Nonetheless, increased regulation and regulations have been proposed by MAS that firms must comply with if they wish operate within city-state’s boundaries.