Crypto Whale Loses 55.47 Million DAI Tokens in Phishing Attack, Reports CertiK

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Phishing Attack and Loss of Funds
  2. Movement of Stolen Funds
  3. Investigation by CertiK


    4. A crypto whale has become the victim of a phishing attack, losing a substantial 55.47 million DAI tokens ($55M). According to on-chain data, the funds were stored in the vault of Maker, a decentralized finance (DeFi) protocol built on Ethereum.

    Phishing Attack and Loss of Funds

    Cryptocurrency wallet owners must exercise extreme caution when signing transactions. In this case, a crypto whale negligently signed a fraudulent transaction, allowing the attacker to access the funds. When the whale attempted to withdraw the funds, the transaction failed due to a change in ownership through the hack.

    Movement of Stolen Funds

    The attacker moved the stolen DAI tokens to a new address and later exchanged 27.5 million DAI for approximately 10,625 ETH, currently worth $27.44 million. Most of these funds were then moved to a trading protocol called CoW.

    Investigation by CertiK

    Security platform CertiK reported that the attacker used Inferno Drainer to access externally owned accounts (EOA). The attacker exploited the EOA to transfer ownership of the DSProxy #166,776 to a new address under their control. A DSProxy is a smart contract that enables users to execute multiple contract calls within a single transaction. The attack took place on Tuesday at 05:40:47 PM UTC.

    The attacker used Inferno Drainer to access externally owned accounts (EOA).CertiK

    At the time of writing, DAI was trading at $0.9999, with a market cap of $5.36 billion, according to CMC data.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

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.