• 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

a year 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

Crypto Investment Funds Face Continued Outflows Amid Market Slowdown

chest

Crypto investment funds have faced a fifth consecutive week of net outflows, totaling approximately $4 billion over five weeks, with a significant decline in trading activity.

user avatarAyman Ben Youssef

Blockchain Association Unveils New Tax Principles for Digital Assets

chest

The Blockchain Association has introduced a framework to guide lawmakers on digital asset taxation as discussions around the CLARITY Act continue.

user avatarSon Min-ho

Market Leverage Ratio Declines, Indicating Reduced Speculative Positioning

chest

The Estimated Leverage Ratio in the crypto derivatives market has sharply declined, suggesting a reduction in speculative positioning and a calmer market environment.

user avatarTando Nkube

Castle Labs Warns of Overbuilt Crypto Market

chest

Castle Labs warns that the cryptocurrency market is overbuilt, with most tokens likely to lose value unless they demonstrate real business traction.

user avatarKofi Adjeman

Bitcoin Mining Difficulty Rebounds, Indicating Network Resilience

chest

Bitcoin mining difficulty has rebounded after a brief dip, indicating renewed miner participation and confidence in Bitcoin's long-term viability.

user avatarNguyen Van Long

Jameson Lopp Raises Alarm Over BIP110's Risks

chest

Jameson Lopp escalates his criticism of the BIP110 proposal, warning it could lead to a disruptive Bitcoin chain split.

user avatarSatoshi Nakamura

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.