Ethereum

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 <p class="p1"><span class="s1">A crypto whale lost $24 million in staked Ethereum in one of the biggest ever phishing attacks, on-chain data shows.</span></p> 
 <p class="p1"><span class="s1">The crypto phisher lured the victim, draining his wallet of 4,851 rETH valued at $8.5 million and 9,579 stETH worth $15.6 million, both versions of Ethereum used for staking. The tokens were priced at a total of $24.3 million, making it one of the biggest crypto phishing losses for a single person ever, said Web3 security firm Scam Sniffer.</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">insane! someone lost $24.23m worth of stETH and rETH to crypto phishing 8 hours ago!https://t.co/CKeSxGkbjU pic.twitter.com/Xq46p10NlP</p> 
  <p>— Scam Sniffer (@realScamSniffer) September 7, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p1"><span class="s1">A number of blockchain security firms have pointed to the possibility of the attack being a well-orchestrated phishing scheme with the wallet address used by the attacker being associated with multiple crypto phishing websites.&nbsp;</span></p> 
 <p class="p1"><span class="s1">Phishing websites are fake online platforms that are designed to trick unsuspecting victims into giving personal and financial information or convincing them to authorize transactions. They often impersonate known crypto projects or promise crypto airdrops.</span><span class="s4">&nbsp;</span></p> 
 <h3 class="p3" id="span-class-s1-what-happened-span"><span class="s1">What Happened?</span></h3> 
 <p class="p4"><span class="s5">According to information from various security firms, the </span><span class="s1">crypto whale “0x13e382” was cajoled to authorize a transaction from their <span class="s6">Ethereum wallet</span> via a malicious link.&nbsp;</span></p> 
 <p class="p5"><span class="s7">According to </span><span class="s1">Mario B, an analyst at security firm Beosin, “The funds were stolen via the transferFrom function, we suspect this was done with a phishing link.”</span></p> 
 <p class="p5"><span class="s1">It appears the individual granted the scammer the required permissions to finalize a ‘transferFrom’ function, after interacting with the phishing link, according to <span class="s8">on-chain data.</span>&nbsp;</span></p> 
 <p class="p6"><span class="s1">Scam Sniffer gave a detailed explanation of what might have transpired in this attack. According to the Web3 security firm, “</span><span class="s9">the victim gave the token approvals to the scammer by signing “increaseAllowance” transactions.</span><span class="s1">”</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">"0x4c10a462CD1e639Da8A062aE8a33a23401120ab1" is associated with many crypto phishing sites. pic.twitter.com/fFGyIswExF</p> 
  <p>— Scam Sniffer (@realScamSniffer) September 7, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p5"><span class="s1">Shortly after unintentionally authorizing the transaction, the funds</span><span class="s11"> were transferred to the address “0x4c10a462CD1e639Da8A062aE8a33a23401120ab1, a wallet </span><span class="s1">designated as “<span class="s12">Fake_Phishing186943</span>” by the block explorer Etherscan. This address, </span><span class="s11">Scam Sniffe</span><span class="s1">r said, “is associated with many crypto phishing sites” and has maintained activity since May 21</span><span class="s11">.&nbsp;</span></p> 
 <p class="p5"><span class="s1">However, the phisher has relocated some of these assets to Fixed Float exchange, while the remainder resides in three other distinct addresses.</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Some of the funds were transferred to @FixedFloat , and most of the funds remained in the following 3 addresses.</p> 
  <p>0x4f2f02ee2f86e9ee8e674c1e8b2837181d12f322<br>0x7023505ed4b696d174969aa318fbe47b98787e49<br>0x2abdc2ab2b7e46e0c6bb4e7c816ef64485f4f7ad https://t.co/tj9C1XjhTE pic.twitter.com/a4UuoYOV2o</p> 
  <p>— MistTrack🕵️ (@MistTrack_io) September 7, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p5"><span class="s1">Jingyi Guo, an analyst at blockchain security firm BlockSec, reinforced this, saying: </span><span class="s3">“The</span><span class="s1"> victim gave the token approvals for rETH and stETH to the phishers in two separate transactions.”</span></p> 
 <p class="p5"><span class="s1">“It is highly likely that the signing of these transactions occurred after accessing a phishing link,” Guo added.</span></p> 
 <p class="p5"><span class="s1">Although the victim’s identity has been concealed, the transaction history reveals a seasoned liquidity provider with a wealth of on-chain experience. The whale’s wallet has been operational since 2017 and currently offers more than $1.6 million in WBTC/USDT liquidity on Uniswap V3.</span></p> 
 <h2 class="p3" id="span-class-s1-phishing-attacks-are-becoming-rampant-on-x-span"><span class="s1">Phishing Attacks are Becoming Rampant on X</span></h2> 
 <p class="p5"><span class="s1">Phishing scams have increased dramatically on the social media platform X, leading to growing concerns from the crypto community. Users are continuously bombarded with numerous verified paid bots to lure vulnerable victims.&nbsp;</span></p> 
 <p class="p1"><span class="s13">One X user, <span class="s14">Wojak Satoshi, </span></span><span class="s1">while replying to Scam Sniffer’s thread, said the platform has been “plagued with scam links. I get tagged in something every 5 mins.”</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">I just lost 55 Roosters… I can see it on Snowtrace. I cannot log into Discord. I see the address that took it. Probably gonna be a lot of cheap Roosters up for sale… Devastating…💔</p> 
  <p>— LordBoz 🐔🐓🥚🔺🐉🧠 (@theboz1632) September 7, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p5"><span class="s1">Another user had fallen victim to scams, losing “55 Roosters’ from just clicking on the links while scrolling his feed.&nbsp;</span></p> 
 <p class="p1"><span class="s13">Earlier, </span><span class="s15">on-chain investigator ZachXBT had expressed <span class="s16">concerns</span> about</span><span class="s1"> this issue, informing the crypto community of the proliferation of fake verified organizations on X.</span></p> 
 <p class="p1"><span class="s1">“Verified orgs were intended to make it harder for scammers, but it has just created a new black market for accounts with no way for us to report and take down these accounts easily,” he said.</span></p> 
 <p class="p1"><span class="s1">This accentuates the continuous threats phishing scams pose to the crypto industry. Crypto-related phishing scams have increased 40% year-on-year, according to a report by </span><span class="s7">cybersecurity firm <span class="s16">Kaspersky</span></span><span class="s11">.</span></p> 
 <p class="p6"><span class="s1">Self-custody, which is seen as a solution to such challenges, has its own risks, and users are advised to exercise extreme caution when using their crypto wallets anywhere on the internet.&nbsp;&nbsp;</span></p> 
 <h3 class="p9" id="span-class-s1-related-news-span"><span class="s1">Related News</span></h3> 
 <ul> 
  <li><span class="s17"><span class="s18">Cryptocurrency Fraud: What You Need to Know</span></span></li> 
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  <li><span class="s17"><span class="s8">Crypto Loses $1.2 Billion To Hacks And Rug Pulls In First Eight Months, Report Says</span></span></li> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/victim-loses-24-million-staked-eth-in-one-of-biggest-ever-phishing-thefts-from-an-individual-tbt61944.html">https://thebittimes.com/victim-loses-24-million-staked-eth-in-one-of-biggest-ever-phishing-thefts-from-an-individual-tbt61944.html</a></p>

Victim Loses $24 Million Staked ETH In One Of Biggest Ever Phishing Thefts From An Individual

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