A Market Maker Loses $24M Due to Phishing Attack

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On September 7, a major market maker involved in extensive trading experienced the most dramatic single-person wallet hack to date– one that used privacy tracking software to usurp 9,579 stETH ($15.6 million) and 4850 rETH ($8.5 million).

The victim unknowingly provided the scammer the required approval by signing the “increaseAllowance” transaction and the offender subsequently sent the funds to many ETH and DAI addresses. Surprisingly the hacker’s wallet has been connected to a large number of phishing sites according to Scam Sniffer researchers.

This follows after a warning from journalists about attackers using the URLs of government sites in multiple countries in an attempt to deceive MetaMask users and steal their properties.

Moreover, months prior, the Cypher decentralized exchange built on Solana lost an estimated $1 million in crypto after a hacker attack.

Furthermore, the yield aggregator Zunami Protocol entered a security breach earlier this month and lost $2.1 million in digital assets.

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