While we have seen a significant increase in hacking incidents in the cryptocurrency market in recent times, the most substantial individual phishing attack in crypto history has occurred. According to The Block’s report, an individual fell victim to a phishing attack and had $24 million worth of cryptocurrency stolen.
The Largest Phishing Attack
According to the details of the incident, the stolen assets include 4,851 Rocket Pool ETH (rETH) and 9,579 Lido Staked ETH (valued at $15.6 million). Furthermore, this incident has been recorded as one of the largest crypto phishing attacks that an individual crypto user has ever experienced.
User Duped into Authorizing a Fake Transaction
Security analysts have indicated that this incident likely involved a phishing tactic. The attackers may have used a phishing link to trick the user into authorizing a fake transaction from their Ethereum wallet. After clicking on this phishing link, on-chain data provided the permissions necessary for the person to transfer their assets to an address controlled by the attacker.
We will continue to provide updates as developments unfold.