Of late, there have been rising cases of looting and brazen acts of thievery on crypto wallets, thereby swelling the number of illegalities brought about by using Profanity to create vanity addresses.
The safety of vanity addresses is currently under review. This is in the wake of the disappearance of nearly a million dollars worth of Ethereum (732 Eth) from a wallet by a cyberpunk who used Tornado Cash to outmaneuver his way based on preliminary findings.
The trend is becoming a worrisome one because of the numerous instances being recorded. Not too long ago 1inch voiced serious concern about the safety of investors’ funds through the use of Profanity and also warned about the possibility of an exploit.
A Flurry of Activities in September
A piece of technology built about five years ago primarily for Ethereum shoppers to assist them with generating vanity addresses, the initial embrace that accompanied the introduction of the Profanity application has dwindled with time due to security lapses in its configuration. The high-profile cases of theft justify this perception. One exploit carried out successfully only encourages the experimentation of the next one and yet, nothing significant has been done to arrest the unfortunate development. Within September, a cybercriminal made away with more than $3 million crypto worth of investment by hacking his way through some Ethereum accounts. Then another partner in crime (aided by a team that neutralized the DeFi safety features) successfully initiated his using a vanity address linked to Wintermute.
