Zodia Custody Joins Global Crypto Storage Network; Safe Wallet Users face $2M Lost to Scammers

By: Eva Baxter

Zodia Custody, backed by Standard Chartered, has joined a Global Crypto Storage Network owned by Ripple-backed Metaco. In related news, Safe Wallet users have been the victims of 'address poisoning', leading to significant losses.

An attacker has orchestrated a wave of thefts against Safe Wallet users, with the past week alone resulting in over $2 million being stolen. This brings the total amount stolen by this attacker in the last four months to at least $5 million, with 21 victims known so far. One victim, who reportedly held $10 million in crypto, luckily lost 'only' $400,000. The method of theft used has been dubbed 'address poisoning', involving the creation of similar-looking addresses to intended victims.

Efforts to mitigate such attacks are ongoing, and users are advised to exercise extreme caution when conducting transactions. Scam Sniffer, a web3 scam detection platform, has been monitoring the situation and issuing necessary alerts.