Blockchain security experts warn against signing unknown transactions and highlight the growing threat of phishing scams in crypto.
A crypto holder who signed an unverified transaction lost $55 million in crypto to malicious actors who employed a phishing attack to steal the whale’s stablecoins.
On Aug. 20, a crypto wallet owner signed a transaction that changed the ownership of 55.47 million DAI (DAI) in the decentralized finance (DeFi) protocol Maker. Because of the signed transaction, a phishing address took ownership of the wallet’s stablecoins.
The whale seemed to realize the mistake and attempted to withdraw the funds to a new address. However, the transaction failed because of the owner change that already happened.
