A person who invests in cryptocurrencies unfortunately got tricked by a phishing scam on the Ethereum network. As a result, they lost approximately $180,000 in USD Coin (USDC) and ANDY (ANDY), a newly introduced meme coin based on Pepe.
According to information from Etherscan, an incident transpired on April 23 between 05:39 and 06:29 UTC, approximately lasting an hour.
Warning: #PeckShieldAlert #Phishing! The wallet address 0x36B4…7703 has been compromised in a phishing scam, leading to a substantial loss. Approximately $162,400 worth of $ANDY (around 1.6B) and around $18,000 in $USDC have been taken. #PhishingAttack_187019 #PhishingAttack_188615
— PeckShieldAlert (@PeckShieldAlert) April 23, 2024
The data from the transactions reveals that the criminals carried out a complex phishing scheme involving several steps, concealed within a single transaction. Each individual step may seem harmless on its own, but collectively, they form part of a deceitful plan.
Additionally, the repeated transactions from the victim’s account transferred funds to various hacker wallets identified on Etherscan, some of which have previously been flagged as phishing scams. In total, the loss amounted to 1.6 billion ANDY tokens valued at $162,400 and 17,913 USDC.
The attack drained the victim’s account, leaving only $32 in Ethereum (ETH) and Arbitrum (ARB). One of the attacker’s wallets retained the stolen funds, while the other, which obtained the ANDY tokens, swiftly exchanged them for WETH on Uniswap and then transferred the WETH to a different wallet.
Smart contract interactions were probably used against the victim in this attack. Criminals often disguise malicious contracts as those executing regular DeFi functions, like token swapping. However, hidden within these transactions are approvals that allow the attacker to take control of the user’s tokens. In a recent case observed by Crypto.news, $674,000 in USDC were stolen and swiftly transferred to the Ox protocol for liquidation. With the increasing number of such attacks, a report showed that more than 57,000 crypto users fell victim to phishing scams in February, resulting in losses totaling $46 million.
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2024-04-23 13:16