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 property 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 tackle. 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 tackle and drained the whole $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 equipment 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 risk of phishing assaults within the crypto business. In these frauds, attackers impersonate reliable entities to steal delicate information and acquire entry to their victims’ crypto wallets.
In response to a report by Rip-off Sniffer, Pockets Drainers, a sort 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 property had been stolen by way of phishing exploits within the first half of 2024.
These assaults affected 266,713 victims and concerned varied phishing strategies, together with Allow, Improve Allowance, Improve Approval, and Uniswap Permit2. Pendle tokens had been essentially the most affected property, adopted by Restaking and Aave Collateral property.
