• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

$32M Stolen in Phishing Attack Targeting High-Profile Crypto Wallet

user avatar

by Giorgi Kostiuk

2 years ago


A high-profile crypto wallet ending in 'e57' recently became the victim of an advanced phishing attack, leading to the theft of 12,083 Spark Wrapped Ethereum (spWETH) tokens, valued at an eye-watering $32 million.

Attack Details

According to cybersecurity firm CertiK, the stolen funds were swiftly dispersed, with 10,000 spWETH, worth $26 million, initially transferred to a wallet beginning with '0x471c.' From there, the attackers further moved the funds into four additional wallets in smaller amounts, making it more difficult for investigators to track and recover. The initial transfer was followed by a series of smaller transactions. Approximately 1,750 ETH was sent to a wallet starting with '0x105c,' while 2,613 ETH was moved to an address starting with '0x278d.' Additionally, another 3,730 ETH was directed to a wallet beginning with '0x408d,' and the final 1,865 ETH found its way to a wallet starting with '0xfaf2.' The incident may have ties to Shixing Mao, the founder of F2Pool, as suggested by data from Arkham Intelligence. However, this information remains unverified at the time of writing, with security experts still working to confirm the identity of the wallet’s owner.

Phishing Attacks Surge

Phishing scams have become a growing threat within the cryptocurrency world, and this latest attack is a glaring example of the evolving sophistication of these attacks. In January, approximately 66,000 Trezor hardware wallet users fell victim to a phishing attack, sparking concerns about the security of these devices. Similarly, in April, phishing scam ads targeted users of Ethereum’s blockchain explorer, Etherscan, causing victims to lose funds through a malicious method known as wallet draining. August 2024 alone saw a staggering 215% rise in phishing-related incidents, according to Scam Sniffer, a blockchain security firm. During this period, total losses reached over $66 million, with one wallet losing an unprecedented $55 million in a single attack.

New Tools of Deception

Phishing attacks are becoming more advanced, with the launch of AngelX in September 2024—an upgraded phishing tool that has wreaked havoc on unsuspecting crypto holders. In just four days, AngelX deployed over 300 malicious decentralized applications (DApps), specifically targeting blockchain users on networks like Tron TRX and The Open Network (TON). These scams are also taking advantage of seemingly trusted platforms. Earlier this month, Scam Sniffer uncovered that search engine DuckDuckGo was displaying fraudulent Etherscan sites, leading users to connect their MetaMask wallets. Once connected, hackers easily drained the funds.

The incident involving the theft of $32 million from a high-profile wallet underscores the growing threat of phishing attacks in the cryptocurrency world. With the development of new tools of deception and an increasing number of victims, security experts continue to work on improving user protection.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Analyst Claims Bitcoin Still Correlates with M2 Money Supply

chest

Crypto analyst KillaXBT argues that Bitcoin's price movements are still aligned with the M2 money supply despite recent deviations.

user avatarElias Mukuru

Spanish Police Take Down Major Illegal Manga Distribution Platform

chest

Spanish National Police dismantled a major illegal manga distribution website operating since 2014, arresting three individuals for intellectual property crimes.

user avatarDiego Alvarez

Regulatory Clarity Key to Sustaining XRP ETF Growth

chest

The future momentum of XRP ETFs may depend on the successful passage of the CLARITY Act, which aims to officially classify XRP as a digital commodity.

user avatarMiguel Rodriguez

Justin Sun Sues World Liberty Financial Amidst Token Collapse

chest

Justin Sun has filed a lawsuit against World Liberty Financial, alleging misconduct and raising concerns about the project's stability amidst a significant drop in token value.

user avatarMaria Fernandez

Spanish Police Discover Hidden Crypto Wallets in Major Raid

chest

Spanish police discovered two hidden crypto cold wallets containing approximately 400,000 euros during a raid in Almera, linked to a major illegal manga distribution platform.

user avatarKenji Takahashi

Canary Capital Maintains Lead in XRP ETF Inflows as Competition Grows

chest

Canary Capital continues to lead XRP ETF inflows with 42186 million, but competition is increasing from Bitwise and Franklin Templeton.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.