A trader lost over $1.28 million worth of cryptocurrencies after signing a malicious permit transaction.
According to blockchain security firm PeckShieldAlert, on Oct. 14, a cryptocurrency investor lost 108 billion PEPE, 73.8 million APU, and 165,000 MSTR tokens after getting tricked into signing a phishing permit signature transaction.
This is called an approval phishing attack which transfers control of a victimâs wallet to the attacker, allowing scammers to drain the stored assets.
In this case, the victimâs wallet, identified by â0xb0b..40c7,â lost roughly $1.2 million worth of cryptocurrencies across six transactions within a few minutes, with the stolen assets distributed across multiple addresses controlled by the attackers.
