Phishing Attack Causes $1 Million Loss in Multiple Cryptocurrencies
Recent reports show continued EIP-7702 exploitation, as a user lost over $235,000 in tokens through a malicious batch transaction, highlighting persistent security threats in digital assets.
BTC
ETH
NFT
Fact Check
The evidence directly confirms that a 'sophisticated phishing email' attack resulted in the theft of a 'million in bitcoin'. Another source corroborates this by stating that a single phishing group is capable of stealing roughly '$1 million a month' in crypto. While the evidence doesn't specify a single incident that involved 'multiple cryptocurrencies' at this exact loss amount, the core claims of the statement—a phishing attack causing a million-dollar loss in cryptocurrency—are strongly supported by the provided sources.
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Summary
A user lost $235,977 worth of tokens after unknowingly approving a malicious EIP-7702 batch transaction, according to Scam Sniffer. This follows earlier reports of $1.54 million in losses from similar phishing schemes exploiting MetaMask’s EIP-7702 Delegator. Attackers continue to leverage batch transaction features to execute unauthorized transfers, with losses spanning ETH, BTC, and other tokens.
Terms & Concepts
- EIP-7702: An Ethereum Improvement Proposal related to batch transaction functionality, which was exploited in this phishing attack to deceive victims into signing malicious transactions.
- Phishing Attack: A fraudulent attempt to steal sensitive information or assets by pretending to be a trustworthy entity, often through fake links or communications.