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 <p class="is-style-lead">Phishing group Angel Drainer has started using a new <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> <a rel="noopener noreferrer nofollow" title="vector" href="https://thebittimes.com/tag/vector.html">vector</a>, targeting re<a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a> <a rel="noopener noreferrer nofollow" title="platform" href="https://thebittimes.com/tag/platform.html">platform</a>s, analysts at Blockaid alarm.</p>
 <p>Blockaid’s analysts have discovered a new attack vector performed by the Angel Drainer group, using a protocol to carry out an approval farming attack via the “queueWithdrawal” function. In an X thread on Feb. 1, Blockaid shared affected wallet addresses, adding it is implementing a fix to safeguard users.</p>
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    <p lang="en" dir="ltr">️ Emerging web3 <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> <a rel="noopener noreferrer nofollow" title="vector" href="https://thebittimes.com/tag/vector.html">vector</a>: Restake Farming ️<br><br>Angel Drainer group has introduced a new <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> <a rel="noopener noreferrer nofollow" title="vector" href="https://thebittimes.com/tag/vector.html">vector</a> utilizing a protocol to execute a novel form of approval farming <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> through the 'queueWithdrawal' mechanism. <br><br>(1/6) pic.twitter.com/sYVu6iCfBh</p>— Blockaid (@blockaid_) February 1, 2024
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 <p>Restaking rewards, introduced by EigenLayer, provide Ethereum (ETH) stakers with new tokens. These tokens can be restaked in other decentralized applications, preserving the option to participate in protocols’ governance.</p>
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 <p>In the latest innovative attack, Angel Drainer has apparently made a new approval farming method through the “queueWithdrawal” function of the EigenLayer platform, approving a malicious “withdrawer” to withdraw staking rewards to the attacker’s address, the firm says.</p>
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  <p>“Unlike the regular ERC20 ‘approve’ method, this is a special kind of approval that is needed due to the nature of Ethereum staking.”</p> <cite>Blockaid</cite>
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 <p>Blockaid emphasizes that this new attack vector involves a distinctive approval method, leading to most security providers or internal security tools not parsing and validating this approval type. To further elude detection, the attacker employs the so-called “CREATE2” mechanism to approve withdrawals to an empty address, as revealed by Blockaid.</p>
 <p>The firm has notified the EigenLayer team about the “ongoing <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>.” In a separate X post, EigenLayer confirmed the <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>, urging users to stay vigilant amidst the increasing phishing <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>s targeting its users.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/angel-drainer-targets-restaking-platforms-with-new-attack-vector-blokcaid-warns-tbt78489.html">https://thebittimes.com/angel-drainer-targets-restaking-platforms-with-new-attack-vector-blokcaid-warns-tbt78489.html</a></p>

Angel Drainer targets restaking platforms with new attack vector, Blokcaid warns

TheBitTimes

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