Someone lost (yet another) millions of dollars worth of funds to a phishing attack while using decentralized finance (DeFi). This is a common mistake among users, affecting even investors" with advanced knowledge if using cryptocurrencies that facilitate these attacks.

In this most recent event, the Ethereum address ‘0xAA1582084c4f588eF9BE86F5eA1a919F86A3eE57‘ lost 12,083.6 spEWTH, worth $32.33 million. Ethereum’s blockchain registered the transaction to two addresses labeled “Fake Phishing” on September 28 at 6:15 a.m. UTC,

Finbold consulted the Arkham Intelligence database, which suggests the address belongs to Shixing Mao, also known as DiscusFish on X. Right now, it still holds $8.25 million worth of tokens, of which $2.85 million are in (DAI) stablecoin.

Notably, Shixing Mao is an experienced crypto executive and CEO-founder of F2Pool and Cobo. If this address truly belongs to Mao, it is yet another cautionary tale about how even experts can fall victim to such attacks -urging the need to find universal solutions to avoid similar events.