A cyberattack on a cryptocurrency user led to the loss of over $900,000 due to a wallet-draining scam based on phishing.
Scam Scheme
The attack was initiated via an ERC-20 approval transaction, likely signed on a phishing site or fake airdrop, granting the scammer's wallet ('0x67E5Ae') ongoing access to the victim's funds.
Attack on the Victim
The scammer, linked to the notorious wallet address 'pink-drainer.eth', executed the theft on August 2 at 4:57 AM UTC, stealing $908,551 worth of USDC. The theft occurred 458 days after the victim signed the phishing approval transaction on April 30, 2024.
Prevention Measures
The incident prompted Scam Sniffer to remind cryptocurrency users to regularly review and revoke old approvals. Emphasis is placed on wallet security and the need for vigilance.
This case highlights the importance of monitoring access to crypto funds and utilizing available tools to prevent such attacks.
