Trader loses $1.28m in PEPE and other altcoins to Inferno Drainer-linked wallet
Release: 2024/10/14 16:49 Reading: 715
Cryptocurrency Trader Loses Millions in Malicious Transaction
According to blockchain security firm PeckShieldAlert, a cryptocurrency investor lost over $1.28 million worth of digital assets on October 14th after being tricked into signing a malicious approval transaction.
PeckShieldAlert reported that the victim's wallet, identified by "0xb0b8...40c7," lost 108 billion PEPE, 73.8 million APU, and 165,000 MSTR tokens in a matter of minutes. The stolen assets were transferred to multiple addresses controlled by the attackers.
One of the addresses, "Fake_Phishing442846," was linked to a previous attack that resulted in the loss of over $32 million worth of spWETH tokens from an affected wallet.
It is suspected that the attackers used Inferno Drainer, a phishing-as-a-service scam toolkit that allows criminals to create malicious websites and applications to steal cryptocurrency from users' wallets.
Phishing attacks have become a significant threat in the cryptocurrency industry, with approval phishing attacks being a major contributor to losses. According to Chainalysis, these attacks have siphoned off over $2.7 billion since 2021.
To protect against phishing attacks, users should be cautious about signing transactions without verifying the recipient and should use secure wallet management practices.
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