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Arkham Intelligence, the company behind FTX and Alameda plot expose reported that 2,400 wallets eligible for the Arbitrum airdrop were hacked. Although the number only composed merely 0.4% of the 625,000 eligible wallets, the numbers could go up if users will not be vigilant.

In a report by Arkham on Monday, the attacker transferred money to the affected wallets to gain access to the ARB (Arbitrum) tokens these wallets will receive ahead of the scheduled token release on March 23, Thursday.

“these are 2400 wallets for which the hacker somehow accessed the seed phrase/private key. he approved $arb on the 0x59 contract – in order to sweep all the ARB out of the wallets by calling a function through the contract, rather than attempting to submit transactions individually. (sic)”

Security company Certik has also revealed that scammers have also launched phishing attacks. As further stated by the security company, attackers created a fake Arbitrum Twitter to scam users of their assets. In a tweet, the security company warned users of this phishing method.

The upcoming Arbitrum airdrop marks the launching of its governance token ARB is a huge success receiving so much interest from the public, well, including scammers. So it’s always advised for users to stay vigilant and protect their digital assets at all costs and avoid interacting with suspicious sites or links.

With just two days to go before the scheduled release of Arbitrum’s token to eligible wallets, major exchanges have already expressed their support for the network’s first digital asset. On March 20, Binance, the biggest exchange based on trading volume announced on Twitter that it will be listing the token. For spot trading, the exchange will offer trading pairs for ARB/BTC and ARB/USDT. For isolated margin trading, ARB/USDT trading pair will be available for users.

Leading crypto exchange Coinbase has also added the altcoin to its supported assets as stated in a blog posted on its website. It was later posted on its official account on Twitter.

ARB (Arbitrum) IOU initially traded between $8-$11 before dropping to $7.47 today in data by Coingecko. Despite the significant drop of more than 30%, its current IOU price is still quite high compared to the OP (Optimism) token’s current price of $2.49. The Arbitrum airdrop has created so much euphoria among eligible users but crypto assets are mainly volatile and a price drop could be imminent once trading starts in exchanges. ARB token can either exceed or go below its current IOU price which means nothing could be certain yet. Let’s see what will happen next but since this is the network’s first token and governance at that, we would be expecting major investors who want to be part of the blockchain’s development to fill their bags with this precious gem. 

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