Crypto Phishing Scam Claims $4.2 Million Victim

A crypto phishing scam recently defrauded an individual of $4.2 million using deceptive ERC-20 permissions and opcode malware. Explore the tactics employed and the rising threat of opcode attacks in the cryptocurrency realm.

  • Crypto Loss: $4.2 million in aEthWETH and aEthUNI.
  • Attack Technique: Falsified ERC-20 permission signature.
  • Security Bypass: Opcode contract manipulation.
  • Web3 Security Alert: Scam Sniffer reports deceptive transaction approvals.

Crypto Fraud Unveiled An undisclosed individual recently encountered a severe setback, losing $4.2 million in a crypto phishing attack. The scam utilized a deceptive ERC-20 authorization manipulated by an opcode contract, allowing the attacker to bypass security measures.

The Opcode Menace The malicious opcode malware at the heart of this attack operates by rerouting funds through falsified signatures, creating new addresses for transactions. This tactic, identified by Web3 security firm Scam Sniffer, exploits vulnerabilities in ERC-20 permissions, complicating detection efforts.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

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