A Crypto Whale Falls Victim to a $4.46 Million Phishing Scam
According to reports, a crypto whale recently fell prey to an astonishing $4.46 million phishing scam. The individual transferred around $4.46 million worth of Tether (USDT) from a Kraken crypto exchange wallet to an address ending in “ACa7.” However, it was later discovered that the destination address belonged to a phishing scammer.
Scammers Have Duped Over $337 Million from 21,953 Victims
The extent of such attacks is truly alarming. Scam Sniffer, a blockchain scam monitoring platform, revealed that scammers have managed to siphon off approximately $337.1 million worth of USDT in total, affecting a staggering 21,953 individuals.
The Modus Operandi of Approval Mining Scams
The Global Anti-Scam Organization shed light on how these approval mining scams operate. Victims are unknowingly tricked into granting unlimited withdrawal access from their cryptocurrency wallets. When victims engage with the fraudulent mining pool, they are prompted to pay a seemingly harmless network fee in Ether (ETH), ranging from $10 to $50.
Beware of Deceptive Tactics
GASO warned that the network fee is a deceptive tactic to gain access to users’ wallets through the USDT smart contract. To prevent falling victim to such scams, it is crucial for crypto enthusiasts to adopt robust security measures and remain skeptical of unsolicited offers or requests for personal information.
A Crypto Whale Loses $24 Million in Ethereum Wallet Hack
In another incident, an unknown individual reportedly lost access to $24 million worth of crypto from their Ethereum wallet due to a phishing attack. This incident marked one of the largest individual crypto thefts to date. The stolen assets included 4,851 Rocket Pool ETH (rETH) valued at approximately $8.5 million and 9,579 Lido Staked ETH (stETH) amounting to roughly $15.6 million.
Hot Take: Stay Vigilant to Protect Your Crypto Assets
These incidents serve as a reminder for crypto holders to stay vigilant and take necessary precautions to protect their valuable assets. Implementing strong security measures, safeguarding private keys, and maintaining a skeptical approach towards unsolicited offers are crucial steps in ensuring the safety of your cryptocurrency investments.
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