Reports reveal that a crypto whale has lost $55.47 million in DAI due to a sophisticated phishing attack. The incident involved the unauthorized transfer of ownership of a Maker vault to a malicious entity.<\/p>\n
The breach began with an innocent transaction, leading to the compromise of assets on August 20, 2024. The ownership of DSProxy #166,776 was redirected to a phishing address “0x0000db5c8B030ae20308ac975898E09741e70000.”<\/p>\n
The attacker then used another address to mint and withdraw 55,473,618 DAI tokens from the vault. They further converted half of the stolen DAI into 10,625 Ethereum (ETH).<\/p>\n
CertiK identified the phishing method as part of the Inferno Drainer category, an exploit that manipulates transaction permissions to divert assets to the attacker’s control.<\/p>\n
This exploit deceives users into granting access to their digital assets through disguised links or compromised interfaces.<\/p>\n
Lookonchain emphasized the importance of double-checking transactions before confirming and cautioned against signing unknown transactions.<\/p>\n
Despite $7.8 million being returned to victims, crypto security faced significant challenges in July, with total losses of $270.9 million due to various hacks and scams.<\/p>\n
Exit scams contributed $3 million, while flash loans, often utilized in arbitrage strategies, accounted for $265.8 million losses. Other exploits added approximately $9.8 million to the total.<\/p>\n
Currently, the total crypto market cap stands at $2.053 trillion.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Reports reveal that a crypto whale has lost $55.47 million in DAI due to a sophisticated phishing attack. The incident involved the unauthorized transfer of ownership of a Maker vault to a malicious entity. How the Mega Crypto Hack Unfolded The breach began with an innocent transaction, leading to the compromise of assets on August […]<\/p>\n","protected":false},"author":1,"featured_media":17761,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Crypto Whale Loses $55 Million In Massive Hack - Bitrabo","description":"Reports reveal that a crypto whale has lost $55.47 million in DAI due to a sophisticated phishing attack. The incident involved the unauthorized transfer of own"},"footnotes":""},"categories":[316],"tags":[7474,504,1995,1430,2055,1927,7475,561,498],"class_list":["post-17760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-55-million","tag-crypto","tag-details","tag-hack","tag-loses","tag-massive","tag-massive-hack","tag-million","tag-whale"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/17760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=17760"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/17760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/17761"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=17760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=17760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=17760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}