Uniswap

Million

Tornado

CoW Protocol

The post <a href="https://coinpedia.org/news/crypto-hack-news-dai-tokens-worth-55-million-stolen-in-high-tech-phishing-operation/" rel="noopener noreferrer nofollow">Crypto Hack News: Dai Tokens Worth $55 Million Stolen in High-Tech Phishing Operation</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Amid the ongoing crypto market volatility and midterm uncertainty, a Web3 user has fallen victim to a phishing attack, resulting in more than $55 million loss. According to an on-chain data analysis conducted by Certik Alert, the attacker, alias Fake_Phishing187019, minted 55,473,618 Dai tokens and immediately began laundering them through different channels.
Reportedly, the attacker managed to drain the $55 million crypto assets by accessing externally owned accounts (EOAs), which operate more or less like normal bank accounts. Furthermore, the owner of EOAs possesses a public key paired with a private key not known to other parties.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet">
 1/ The theft was possible due to the attacker gaining access to EOA 0xf2B889437F243396b29E829908b5d8ebE2e13048Ttthe wallet was used to transfer ownership of DSProxy #166,776 to 0x0000db5c8B030ae20308ac975898E09741e70000 11 hours ago at Aug-20-2024 05:40:47 PM UTC. <a href="https://t.co/BxI1MYPR7W" rel="noopener noreferrer nofollow">pic.twitter.com/BxI1MYPR7W</a>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1826129237343945074?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 21, 2024</a>
 </blockquote>
 </div>
</figure>
Further analysis of the attacker’s address reveals a high determination to conceal and launder as many funds as possible in different amounts. For instance, the attacker sent around $36 million to a <a href="https://etherscan.io/address/0xdd6397104d57533e507bd571ac88c4b24852bce9#tokentxns" rel="noopener noreferrer nofollow">single address</a> and then sent $17.5 million to CoW Protocol earlier today.&nbsp;
Meanwhile, the attacker had already begun <a href="https://etherscan.io/address/0x9008d19f58aabd9ed0d60971565aa8510560ab41#tokentxns" rel="noopener noreferrer nofollow">swapping</a> the assets to Wrapped ETH and BTC&nbsp; by depositing the funds to Uniswap V3.
<h2 class="wp-block-heading" id="h-rising-web3-attacks-via-phishing-scams">Rising Web3 Attacks Via Phishing Scams</h2>
The Web3 industry has suffered from its extensive success in the past few years. Sophisticated tech has been used to compromise weak security designs for different Web3 platforms.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/CertiKStatsAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CertiKStatsAlert</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" style="height: 1em; max-height: 1em;"> Combining all the incidents in July we’ve confirmed ~$270.9m lost to exploits, hacks and scams after ~$7.8m was returned. The amount is the second highest monthly loss so far in 2024. Exit scams: ~$3m Flash loans: ~$265.8m Exploits: ~$9.8m More details… <a href="https://t.co/FCXNe4sGiu" rel="noopener noreferrer nofollow">pic.twitter.com/FCXNe4sGiu</a>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1818603157649281382?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 31, 2024</a>
 </blockquote>
 </div>
</figure>
According to Certik Alert, more than $270 million was lost from different web3 projects in hacks, exploits, and scams, while the attackers only returned $7.8 million in July.&nbsp;
The WazirX hack, which resulted in the loss of over $230 million, left more retail investors devastated after the attacker deposited the funds into Tornado Cash.
Earlier this week, 4,064 Bitcoins, worth about $238 million, were stolen from a victim and quickly transferred to THORChain, eXch, KuCoin, ChangeNow, Railgun, and Avalanche Bridge.

Crypto Hack News: Dai Tokens Worth $55 Million Stolen in High-Tech Phishing Operation

Table of Contents

CoinPedia News

Other articles published on Aug 21, 2024

Join our free newsletter for daily crypto updates!