{"id":58763,"date":"2023-09-09T00:08:11","date_gmt":"2023-09-09T04:08:11","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/24-million-drained-from-ethereum-wallet-in-phishing-scam\/"},"modified":"2023-09-09T00:08:14","modified_gmt":"2023-09-09T04:08:14","slug":"24-million-drained-from-ethereum-wallet-in-phishing-scam","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58763","title":{"rendered":"$24 Million Drained from Ethereum Wallet in Phishing Scam"},"content":{"rendered":"
\n

In a significant crypto heist, an unknown individual has reportedly lost access to a staggering $24 million worth of crypto from their Ethereum wallet.<\/p>\n

The incident, believed to be the result of a phishing scam, stands as one of the largest individual crypto thefts to date, crypto news outlet The Block reported on Thursday.<\/p>\n

The stolen assets included 4,851 Rocket Pool ETH (rETH), worth some $8.5 million, and 9,579 Lido Staked ETH (stETH), amounting to around $15.6 million based on current prices.<\/p>\n

The victim’s digital wealth was drained from the Ethereum wallet in a swift manner, which shows just how targeted and professional crypto-focused phishing scammers have become.<\/p>\n

IT security firms such as Beosin and BlockSec have analyzed the incident and have pointed towards phishing tactics as the likely modus operandi.<\/p>\n

According to these experts, the victim appears to have fallen for a phishing scheme that led them to unwittingly authorize malicious transactions from an Ethereum wallet.<\/p>\n

Phishing scams common in crypto<\/h2>\n

Phishing attacks typically involve deceptive emails, texts or phone calls where victims are tricked into giving away sensitive information.<\/p>\n

These types of attacks are among the most common ways people lose funds to malicious actors in the crypto world.<\/p>\n

In this specific case, interaction by the victim with a malicious smart contract resulted in the unauthorized transfer of crypto to the attacker.<\/p>\n

Shortly after unwittingly giving the green light to transfer funds to the attacker, the stolen digital assets were moved to an address cryptically labeled “Fake_Phishing186943,” as confirmed by data on the Ethereum blockchain explorer Etherscan.<\/p>\n

\u201cThere are reports that this address was used in a Phishing scam. Please exercise caution when interacting with it,\u201d Etherscan writes about the specific address in a warning to users.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In a significant crypto heist, an unknown individual has reportedly lost access to a staggering $24 million worth of crypto from their Ethereum wallet. The incident, believed to be the result of a phishing scam, stands as one of the largest individual crypto thefts to date, crypto news outlet The Block reported on Thursday. The […]<\/p>\n","protected":false},"author":1,"featured_media":58764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-58763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\n$24 Million Drained from Ethereum Wallet in Phishing Scam | iFintechWorld<\/title>\n<meta name=\"description\" content=\"In a significant crypto heist, an unknown individual has reportedly lost access to a staggering $24 million worth of crypto from their Ethereum wallet.The\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=58763\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$24 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