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Home»ADOPTION NEWS»Phishing attack leaks $35 million worth of tokens from cryptocurrency whale
ADOPTION NEWS

Phishing attack leaks $35 million worth of tokens from cryptocurrency whale

By Crypto FlexsOctober 14, 20242 Mins Read
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Phishing attack leaks  million worth of tokens from cryptocurrency whale
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Security • October 11, 2024, 4:38 AM EDT

Posted 1 minute ago to

Updated: October 11, 2024, 6:33 AM EDT

Security analysts reported a security incident involving a phishing attack in which the cryptocurrency whale lost about $35 million worth of FwDETH (15,079 Few Wrapped Duo ETH).

fwDETH is a wrapped version of Duo ETH or DETH, a derivative of ETH issued by Duo, a DeFi protocol on the Blast network.

The incident occurred due to Whale’s fraudulent “permission” signature, which allowed the attacker to access his address 0xEab2E… The withdrawal of funds from a393 was first noted by Scam Sniffer, a cryptocurrency fraud prevention solution.

Security company PeckShield BlockSec confirmed the incident. “It appears that the attacker lured the victim into signing a permission message offline and then used the signed permission message to steal fwDETH tokens from the victim’s account,” Yajin (Andy) Zhou, co-founder of BlockSec, told The Block. .

This exploit caused users to lose a significant amount of fwDETH, which saw its value decline rapidly due to the attacker’s selling. According to data from DexScreener, in the hours following the incident, the value of DETH fell by more than 90%, from $2,000 to $100, before recovering to $1,000 at the time of this writing.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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