{"id":63855,"date":"2023-09-21T04:24:26","date_gmt":"2023-09-21T08:24:26","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/crypto-whale-duped-for-4-5-million-in-a-phishing-attack\/"},"modified":"2023-09-21T04:24:30","modified_gmt":"2023-09-21T08:24:30","slug":"crypto-whale-duped-for-4-5-million-in-a-phishing-attack","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=63855","title":{"rendered":"Crypto Whale Duped for $4.5 Million in a Phishing Attack"},"content":{"rendered":"
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A crypto whale has reportedly fallen victim to a staggering $4.46 million phishing scam.\u00a0<\/p>\n

The unidentified crypto holder transferred approximately $4.46 million worth of Tether (USDT) from a Kraken crypto exchange wallet to an address ending in “ACa7,” as per data from Etherscan.<\/p>\n

Blockchain security firm PeckShield has identified the destination address as belonging to a phishing scammer, shedding light on the intricate web of deception that ensnared the victim.\u00a0<\/p>\n

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Another blockchain scam monitoring platform, Scam Sniffer<\/a>, weighed in on the situation, suggesting that the pilfered funds found their way to an address associated with a “fake Coinone crypto mining exchange.”<\/p>\n

Over $337 Million Duped from 21,953 Victims in Such Attacks<\/h2>\n

Scam Sniffer’s insights further unveiled the unsettling scale of such attacks, revealing that scammers have managed to siphon off approximately $337.1 million worth of USDT in total, impacting a staggering 21,953 individuals.<\/p>\n

The Global Anti-Scam Organization (GASO) shed light on the modus operandi behind these approval mining scams, indicating that they typically lure victims into unknowingly granting unlimited withdrawal access from their cryptocurrency wallets.\u00a0<\/p>\n

When victims engage with the fraudulent mining pool, they are prompted to pay a seemingly innocuous network fee in Ether (ETH), ranging from $10 to $50.<\/p>\n

However, GASO cautioned that this apparent network fee is merely a ruse to deceive users.\u00a0<\/p>\n

By clicking the payment button, victims inadvertently provide digitally signed authorization, granting unfettered access to their wallets through the USDT smart contract.<\/p>\n

Authorities and organizations alike are urging crypto enthusiasts to adopt robust security measures, including safeguarding private keys and remaining skeptical of unsolicited offers or requests for personal information.<\/p>\n

$24 Million Stolen From One Crypto Whale\u00a0<\/h2>\n

As reported earlier, on September 8, 2023, an unknown individual reportedly lost access to a staggering $24 million worth of crypto from their Ethereum wallet..<\/p>\n

The phishing attack led to one of the largest individual crypto thefts to date.\u00a0<\/p>\n

The stolen assets included 4,851 Rocket Pool ETH (rETH), valued at approximately $8.5 million, and 9,579 Lido Staked ETH (stETH), amounting to roughly $15.6 million based on the prices at the time.<\/p>\n<\/p><\/div>\n