Binance encounters a $20 million USDT transfer scam, where scammers use addresses with the same starting and ending characters.
Binance's founder, Zhao Changpeng, tweeted that Binance recently fell victim to a scam involving a transfer of 20 million USDT, and the addresses generated by the scammers had the same first and last letters. Immediately after the transaction was completed, the operator discovered the error and Binance promptly requested freezing of the USDT.
CZ tweeted, saying, "Now, some procedures, including filing a report with the police, are needed to recover the funds. But at least, the funds will not be lost along with the scammers."
It is reported that the legitimate receiving address is: 0xa7B4BAC8f0f9692e56750aEFB5f6cB5516E90570, while the phishing address is: 0xa7Bf48749D2E4aA29e3209879956b9bAa9E90570.
The scammer's generated address has the same starting and ending letters as the legitimate address, and most people only check the first and last letters when making transfers. In fact, many wallets use "..." to hide the middle part of the address to make the user interface look better.