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Cryptocurrency News Articles
Hackers Drain $32M in spWETH From Wallet Ending in "e57" After Sophisticated Phishing Attack
Sep 29, 2024 at 06:03 am
A wallet ending in "e57" fell prey to a sophisticated phishing attack on Sept. 27 that left the wallet drained of 12,083 Spark Wrapped Ethereum
On Sept. 27, a concerning phishing attack targeted a hardware wallet. According to blockchain security firm CertiK, a wallet ending in "e57" fell victim to the attack, resulting in the loss of 12,083 Spark Wrapped Ethereum (spWETH) tokens. At the time of the incident, these tokens were valued at approximately $32 million.
CertiK's analysis of on-chain data revealed that 10,000 spWETH tokens, valued at roughly $26 million, were initially transferred from the compromised hardware wallet to another wallet beginning with the characters "0x471c." Subsequently, a portion of these funds was further moved across four additional wallets.
According to CertiK, a total of 1,750 Ether ( ETH ) (valued at approximately $2,662,130 at the time) was transferred to a new wallet starting with "0x105c." Additionally, 2,613 ETH was transferred to a wallet beginning with "0x278d," followed by another transfer of 3,730 ETH to an address starting with "0x408d." Finally, around 1,865 ETH was moved to an address beginning with "0xfaf2."
CertiK Alert revealed the concerning details of the hardware wallet phishing attack on Sept. 27. Source: CertiK Alert.
Meanwhile, data from Arkham Intelligence suggested that the compromised hardware wallet might belong to F2Pool founder Shixing Mao; however, this information is yet to be independently verified.
Related: Decentraland X account hacked, phishing scam targets MANA airdropPhishing attacks on the rise in August 2024
In other crypto-related developments, phishing attacks saw a sharp increase during August 2024, rising by 215%, according to a report by Scam Sniffer. The security firm's August phishing report also highlighted total losses from these malicious attacks, which amounted to over $66 million. Notably, Scam Sniffer identified one wallet that lost a staggering $55 million in a single phishing attack targeting the victim's proxy ownership.
In a separate development, a September 2024 report by Blockaid revealed that the infamous Angel Drainer — malicious phishing software targeting cryptocurrency users — was upgraded to the newer AngelX. According to the report, the newly upgraded phishing software managed to deploy more than 300 phishing decentralized applications (DApps) within just four days.
At the time, a Blockaid spokesperson raised concerns about the upgraded AngelX phishing suite targeting "newer" blockchain networks such as The Open Network ( TON ) and Tron ( TRX ). One of the most alarming features of AngelX was a newly upgraded control panel, which provided malicious actors with unparalleled ability to create customized and increasingly sophisticated phishing scams.
A snapshot of Blockaid's analysis of AngelX phishing DApp deployments on different blockchain networks. Source: Blockaid
Search engines unknowingly feature malicious phishing linksA Sept. 11 report from Scam Sniffer also brought to light the presence of fraudulent Etherscan sites being displayed in search results on the DuckDuckGo search engine. The security firm warned that these malicious links prompted users to connect MetaMask wallets, and once connected, hackers were able to access the funds within the wallets.
Magazine: Bankroll Network DeFi hacked, $50M phisher moves crypto on CoW: Crypto-Sec
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