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- A trader lost nearly $1 million after approving a malicious transaction online. Ethereum.
- Last year, investors lost $723 million as a result of 248 phishing incidents.
On According to Scam Sniffer service, a trader lost 999,999 USDT due to a phishing token on EthereumInterestingly, the scammers initially attempted to withdraw 1 million USDT, but were unsuccessful due to insufficient funds.
As a result, the script recalculated and displayed the exact balance of funds, Scam Sniffer reported.
Attackers withdrew 999,999 USDT in three transactions. Source: Etherscan
This isn't the first time the wallet owner, who was targeted by a phishing attack, has lost money due to carelessness. Just a few days ago, he lost $1,65 million after connecting to a fake exchange and signing a malicious contract.
This permission gave the attackers unlimited access, allowing them to use an automated tool to withdraw funds, wrote then Block-analyst Ryan Coleman.
Social engineering using phishing token confirmations has become a common tactic among scammers. They trick victims into providing access to their wallets using seemingly innocuous transactions. According to CertiK, in 2025, investors lost $723 million as a result of 248 phishing incidents.
According to another blockchain security company, SlowMist, hackers are now not only looking for bugs in smart contracts, but also hunt for users and developers. To do this, they actively use fraudulent posts on social media.
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