Blockchain safety platform Rip-off Sniffer reported {that a} crypto dealer misplaced $55.47 million in DAI stablecoin to a phishing assault.
In response to the agency, the dealer misplaced their belongings after mistakenly transferring possession of their collateralized debt place (CDP) on DeFi Saver Proxy to a malicious pockets.
DeFi Saver Proxy is a proxy contract deployed by Maker, the issuer of DAI stablecoin, for merchants managing collateralized debt positions (CDPs).
The sufferer, recognized as ‘0xf2B8,’ executed a ‘SetOwner’ transaction, unknowingly redirecting possession of their DeFi Saver Proxy contract to a phishing deal with. When the sufferer tried to execute a transaction, it failed as a result of they now not owned the DeFi Saver Proxy.
The attacker then transferred possession to a different deal with and drained all the $55.47 million in DAI from the sufferer’s account.
Yu Xian, the founding father of blockchain safety agency SlowMist, identified that the attacker utilized the infamous Inferno Drainer crypto wallet-draining package to perpetrate the assault.
In the meantime, the blockchain analytical platform Lookonchain acknowledged that the attacker had exchanged 27.5 million DAI for 10,625 ETH as of press time.
Phishing exploits
This newest exploit highlights the continued menace of phishing assaults within the crypto trade. In these frauds, attackers impersonate official entities to steal delicate information and achieve entry to their victims’ crypto wallets.
In response to a report by Rip-off Sniffer, Pockets Drainers, a kind of phishing malware, are sometimes used on these phishing web sites to trick customers into signing malicious transactions. This yr alone, over $314 million price of digital belongings had been stolen by means of phishing exploits within the first half of 2024.
These assaults affected 266,713 victims and concerned varied phishing strategies, together with Allow, Enhance Allowance, Enhance Approval, and Uniswap Permit2. Pendle tokens had been essentially the most affected belongings, adopted by Restaking and Aave Collateral belongings.
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