Crypto Whale Loses $55 Million In Massive Hack
In a massive security breach, a crypto whale has reportedly lost $55.47 million in DAI due to a sophisticated phishing attack. The incident
Here’s How The Mega Crypto Hack Happened
The sequence of events began with an unsuspecting victim signing a transaction that seemingly appeared innocuous but was actually a setup leading to the compromise of their assets.
Following the change in ownership, the attacker utilized another address,
The blockchain records as per Etherscan reveal the attacker’s subsequent actions, where they converted approximately half of the stolen DAI into 10,625 Ethereum (ETH).
CertiK, a leading security-focused ranking platform to analyze and monitor blockchain protocols and DeFi projects, identified the phishing technique used as part of a broader category known as Inferno Drainer.
Inferno Drainer is a particularly virulent type of smart contract exploit that manipulates transaction permissions to redirect assets to addresses controlled by the attacker.
The exploit is often embedded within malicious smart contracts that appear benign or mimic legitimate contract interactions, thus deceiving the user into executing transactions that grant attackers access or control over their digital assets.
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