PEPE Holder Loses $1.39 Million in ‘Permit2’ Phishing Scam

by

As a researcher with years of experience in the dynamic world of cryptocurrencies, I have seen both the promising potential and the dark side of this revolutionary technology. Today’s incident, involving a staggering $1.39 million loss due to a ‘permit2’ phishing scam, serves as yet another grim reminder of the risks that lurk in the digital frontier.

Earlier today, there was an alarming occurrence as per Scam Sniffer’s report: A person holding PEPE suffered a theft of approximately $1.39 million in cryptocurrency, allegedly due to a ‘permit2’ phishing scam.

The stolen assets, including PEPE, MSTR, and APU tokens, were transferred to a new address (0x3076ce666f707776aaf75f6c44f8c4085375a66f) just an hour after the attack.

A phishing attack takes advantage of the Permit2 functionality in Uniswap, allowing for multiple tokens to be authorized using one digital signature. Regrettably, when scammers acquire a user’s signature, they can swiftly empty the user’s wallet of numerous assets.

A PEPE token owner who’s been impacted recently serves as another example in the escalating issue of cryptocurrency fraud. This underscores the significance of exercising caution while confirming transactions, as well as the necessity to enhance safety measures within the digital currency sector.

With the increasing popularity of cryptocurrencies, the likelihood of fraudulent activities also increases. It’s crucial for users to confirm the authenticity of any signature requests they encounter to safeguard their digital assets against such misleading schemes.

Read More

2024-10-14 08:52