Crypto Whale Loses $32 Million in Major Phishing Attack

A recent phishing attack has resulted in a crypto whale losing over $32 million in altcoins, marking a significant event in the DeFi sector.

The theft, initially reported by blockchain security service ScamSniffer, involved the loss of 12,083 wrapped Ethereum (spWETH) tokens from the DeFi protocol Spark. The whale’s funds were drained after they inadvertently approved a malicious transaction.

This incident is linked to Inferno Drainer, a notorious platform that specializes in “fraud as a service,” targeting DeFi users with counterfeit applications to gain control of their wallets. According to Arkham, Inferno Drainer has amassed over $215 million in stolen assets from more than 200,000 victims, taking a 20% commission on all thefts.

Though the victim’s identity remains unconfirmed, some suggest it might be associated with a whale known as CZSamSun, distinct from Paradigm researcher @samczsun. In a bid to recover the stolen funds, the victim offered a 20% reward to the hacker but received no response.

Meanwhile, blockchain analytics firm LookOnChain has issued warnings to users about the importance of avoiding unknown links and verifying transactions before approval. Despite a decline in online hacking incidents, there has been a noticeable increase in physical cryptocurrency thefts recently.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.