Kraken User Loses 8,662 ETH in $18 Million Social Engineering Attack

Stolen funds were routed through THORChain (cross-chain liquidity protocol) and later deposited into HitBTC, according to the report.

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Summary

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Terms & Concepts
  • Social engineering attack: A scam that manipulates people into revealing sensitive information or granting unauthorized access to funds.
  • THORChain: A cross-chain liquidity protocol that lets users swap assets across different blockchains without a centralized intermediary.
  • ETH: The native cryptocurrency of the Ethereum blockchain, commonly used for transactions, fees, and smart contract activity.