A cryptocurrency investor lost $ 3 million in a phishing scam after having signed a malicious blockchain transaction without checking the address of the contract, highlighting the risk of digital assets.
A single bad click was everything it took to empty $ 3 million from the USDT (USDT) of an investor who did not check the address of the contract before signing the blockchain transaction.
“Someone was the victim of a phishing attack, signed a malicious transfer and lost $ 3.05 million USDT,” said Wednesday X post of the Lookonchain blockchain analysis platform. “Stay alert, stay safe. Bad click can empty your wallet. Never sign a transaction that you do not fully understand. ”
Cryptographic phishing attacks are social engineering systems in which attackers share fraudulent links to steal sensitive information from victims, such as private keys to cryptocurrency.
Like most investors, the victim probably validated the portfolio address by only corresponding to the first and last characters before transferring the $ 3 million to the malicious actor. The difference would have been noticeable in the characters in the middle, often hidden on the platforms to improve the visual attraction.
In relation: The Lazare group has turned more than $ 200 million in hacy crypto since 2020
Stressing the need for more reasonable diligence of investors, another victim lost more than $ 900,000 in digital assets to a sophisticated phishing attack on Sunday 458 days after having signed a malicious approval transaction to a portfolio drainage scam, Cointelegraph reported.
These pale uprights compared to the $ 71 million lost in a portfolio poisoning scam in May 2024, which took a surprising turn when the crook changed heart and returned the $ 71 million in two weeks after withdrawing the growing pressure from the world’s blockchain worldwide investigators who revealed the potential IP address of Hong Kong.
In relation: CREDIX recovers $ 4.5 million in crypto after successful operating negotiations
Crypto phishing attacks the best security problems of 2024
Pirates gradually go into the orientation of the code to the exploitation of vulnerabilities in human psychology, which can be easier to circumvent than the protocol railings.
Phishing attacks were the most expensive attack vector in the cryptographic industry in 2024, compensating for attackers of more than a billion dollars in digital assets stolen on 296 incidents, according to the Certik web 3 report
Of nearly 300 phishing attacks in 2024, at least three led more than $ 100 million in losses.
“Phishing was the most expensive attack vector last year,” said Certik spokesperson at Cointelegraph. “Our figures are conservative; the actual figure is higher when you consider unusual incidents and other types of scams such as pig butcher’s shop.”
To counter this growing threat, the Binance security team, the largest exchange in the world, developed an “antidote” against address poisoning scams, which launched an algorithm which detected nearly 15 million poisoned addresses, Cointelegraph reported in May 2024.
https://www.youtube.com/watch?v=aqfapmzedm4
Review: $ 12.1 million in suspicious fraud with “New Face” Arrest, Crypto Scam Chailer Rooms Basted: Asia Express
