simulations

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New Web3 attack exploits transaction simulations to steal crypto

Threat actors are employing a new tactic called “transaction simulation spoofing” to steal crypto, with one attack successfully stealing 143.45 Ethereum, worth approximately $460,000. The attack, spotted by ScamSniffer, highlights a flaw in transaction simulation mechanisms used in modern Web3 wallets, meant to safeguard users from fraudulent and malicious transactions. How the attack works Transaction simulation is a feature that allows…