Mass Phishing Steals 15,079 DETH, Destabilizing DeFi Markets

A cryptocurrency whale lost approximately $36 million in a phishing attack, blockchain security firm Scam Sniffer reported. The attack involved the draining of 15,079 DETH, an asset designed to maintain 1:1 parity with Ethereum (ETH), causing major disruption in decentralized finance (DeFi) markets. Data provided by Arkham Intelligence suggests that the affected address could be linked to venture capital firm Continue Capital, although the firm has yet to issue any official comment on the incident.

The modus operandi of the Angel Drainer group

The attack has been attributed to the Angel Drainer phishing group, known for offering “draining-as-a-service” (DAAS) services. According to Yu Xian, founder of blockchain security firm SlowMist, this group provides phishing tools, such as fake social media accounts and fraudulent websites, to scammers in exchange for a portion of the stolen funds. During 2023, these types of services contributed to the loss of $295 million from 324,000 victims.

Scam Sniffer revealed that in the third quarter of 2024 alone, phishing scams have generated losses of approximately $126 million in the crypto sector. These attacks remain a persistent and costly problem for cryptocurrency users.

The impact on the DETH market

The attack also had significant repercussions on the markets for DETH, an asset linked to the value of ETH. After the theft, the attacker exchanged the stolen DETH for ETH through a decentralized exchange, according to analysis by blockchain expert Ember CN. However, the liquidity available in the DETH pool was insufficient, and the attacker only managed to receive 2,288 ETH of the 14,079 DETH he attempted to sell.#Ethereum #ETH #Ethereum✅ #BecomeCreator #estafa $ETH