Hackers have managed to steal $500,000 worth of tokens from layer-2 scaling solution Arbitrum’s March 23 airdrop. The theft was carried out through the use of vanity addresses, customized cryptocurrency addresses that contain specific words or phrases chosen by the user to make them more personal and identifiable. While vanity addresses offer a level of personalization and identification, their safety is questionable, as they can compromise the security of users’ private keys.
The hacker compiled vanity addresses that were eligible to receive ARB tokens and generated similar addresses using vanity address generators. This allowed them to redirect the airdropped tokens to their own addresses, making it impossible for the original owners to claim their ARB tokens. Several crypto users have expressed sadness about their stolen ARB tokens, with many being unaware of the reason behind the loss and having no idea what to do about…
