Crypto victim loses $908K in sophisticated phishing attack

A victim lost $908,551 in a crypto phishing scam 15 months after signing a malicious approval transaction. The scammer waited until two large deposits were made before striking.

A crypto user lost $908,551 to a wallet-draining scam 458 days after unknowingly signing a malicious approval transaction, onchain data shows.

The attack originated from an ERC-20 approval transaction — likely signed via a phishing site or fake airdrop — that gave the scammer’s wallet, “0x67E5Ae,” ongoing permission to access the victim’s funds.

The scammer — linked to the notorious pink-drainer.eth wallet address — executed the theft on Aug. 2 at 4:57am UTC, stealing $908,551 worth of the USDC (USDC) stablecoin, Scam Sniffer pointed out on X. The theft came 458 days after the victim signed the phishing approval transaction on April 30, 2024.

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