$55.4 Million in Dai Stablecoins Lost by Crypto Whale to Phishing Attack 🐳

By Wyatt Newson Aug 21, 202437Views

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Stay Alert: Protect Your Crypto Assets Against Phishing Attacks

As a crypto investor, you must safeguard your assets against sophisticated phishing attacks that can lead to significant financial losses. Here’s what you need to know to enhance your security:

Understanding the Latest Phishing Attack

Phishing tool known as Inferno Drainer used in the attack.
Victim’s externally owned account (EOA) compromised.
Attacker takes control of a Maker Vault to mint Dai stablecoins.

Attacker’s Control of Crypto Whale’s EOA

Whale’s DSProxy ownership transferred to attacker-controlled address.
Minting of 55,473,618 Dai stablecoins into attacker’s wallet.
Attempts to invoke DSProxy failed after ownership transfer.

Illicit Crypto Transactions Drop in 2024

Decline in overall illicit cryptocurrency transactions.
Hacking and ransomware attacks on the rise.
Stolen funds through hacking and ransomware attacks surge.

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#Phishing alert crypto cryptocurrency cryptonews dai Hacking Maker phishing attack phishing attacks security Stablecoins wallet

Wyatt Newson

Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt's insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension. Guiding both seasoned navigators and curious newcomers, Wyatt's insights serve as a compass for astute decision-making amidst the ever-shifting currents of cryptocurrencies. With the artistry of a linguistic craftsman, they skillfully craft narratives that enrich the evolving tableau of the crypto landscape.