An unidentified entity has lost substantial Wrapped Ethereum tokens due to a phishing attack.
Incident Details
An entity reportedly linked to a crypto venture fund lost 15,079 fwDETH tokens, equivalent to $36 million, due to a malicious 'permit' transaction signature. This was reported by the blockchain account Lookonchain on platform X, pointing to a potential connection with Continue Capital.
Price Drop and Impact
The price of fwDETH plummeted by over 95%, later recovering to a 40% decline. X user @roffett_eth noted that the price drop led to attacks on projects like PAC Finance and Orbit Finance.
Phishing Risks in Cryptocurrency
Phishing attacks in cryptocurrency are becoming increasingly sophisticated, often mimicking legitimate permission requests. This incident highlights ongoing phishing risks in the crypto world.
The $36 million loss case highlights vulnerabilities in the crypto sector and the importance of caution when dealing with digital signatures.