Crash

2024

Swap

Million

Arkham

The crypto industry continues to be a prime target for hackers, and yet another victim has fallen prey to their schemes.
According to a post by EmberCN, a wallet lost a staggering $36 million in a phishing attack by signing a fraudulent transaction.
EmberCN reported that this wallet was flagged by Arkham as belonging to Continue Fund, a U.S.-based entity.
The wallet lost 15,079 fwDETH (worth $36 million) in the phishing incident.
<blockquote class="twitter-tweet">
 啊这…被 Arkham 标记疑似属于 <a href="https://twitter.com/ContinueFund?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@ContinueFund</a> 的地址 7 小时前被钓鱼损失 15,079 枚 fwDETH ($35.98M)。
 随后钓鱼实施者为快速将盗取资产转换为安全资产，直接通过 Swap 将 DETH 换回 ETH。但由于 DETH 池子深度不够，14,079 枚 DETH 仅仅换回了 2,288 ETH。池子都被他掏空了，DETH/WETH 高度脱锚。… <a href="https://t.co/YCVMfcNw3d" rel="noopener noreferrer nofollow" target="_blank">https://t.co/YCVMfcNw3d</a> <a href="https://t.co/zvedPpyOf6" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/zvedPpyOf6</a>
 — 余烬 (@EmberCN) <a href="https://twitter.com/EmberCN/status/1844609976905630042?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">October 11, 2024</a>
</blockquote>
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“Arkham flagged the address belonging to Continue Fund, which was targeted by a phishing attack 7 hours ago, leading to the loss of 15,079 fwDETH (worth $35.98 million). The attacker quickly converted the stolen assets into secure ones by swapping DETH directly for ETH. However, due to insufficient pool depth, only 14,079 DETH was exchanged for 2,288 ETH, drastically destabilizing the DETH/WETH pool.
The value of the stolen assets plummeted by 85%, dropping from $35.98 million to $5.5 million.”
<h2 id="price-crash-follows-massive-phishing-attack">Price Crash Follows Massive Phishing Attack</h2>
Experts highlighted the magnitude of this loss and urged investors to be cautious: “To avoid phishing attacks, do not click on unknown links or sign unfamiliar transactions. Always double-check before signing.”
In the wake of this incident, DETH’s price dropped 40% in the last 24 hours.

A Costly Click! Investor Loses $36 Million as This Altcoin Takes a Massive Hit

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