Security team: An address encountered an ERC20 Permit phishing attack, resulting in a loss of approximately 2.28 million US dollars

On May 1st, it was reported that the Web3 anti fraud tool Scam Sniffer posted that the address starting with “0x36b” encountered an ERC20 Permit phishing attack 10 hours ago, resulting in a loss of approximately 2.28 million USDCs. The fraudulent addresses are: “0xdd6cf6483fe5d948e0Aee94d94b8c98f055d1b0”, “0xb6d6c8193cc2d28be229ac208b1cd689653e75d4”, “0x076a3a43b9ed37f9001e58b2418e87333385d4e8”. Slow fog prompt: The stolen funds are all stored in the hacker address “0xCA4DDFFE50720292C9F0530B6F98Ca5e40c046b5”.

Security team: An address encountered an ERC20 Permit phishing attack, resulting in a loss of approximately 2.28 million US dollars

1. Introduction to Scam Sniffer
– Brief history
– Purpose
– Importance
2. The Phishing Attack
– Overview of the attack
– Details of the lost funds
– Explanation of the fraudulent addresses
3. Slow Fog prompt
– Explanation of Slow Fog
– Details of the hacker’s address
4. Impact of the Attack
– Consequences for affected parties
– Possible outcomes
5. Preventative Measures
– Tips for avoiding phishing attacks
– Importance of cybersecurity
6. Conclusion
– Recap of the attack
– Final thoughts
# On May 1st, it was reported that the Web3 anti-fraud tool Scam Sniffer posted that the address starting with “0x36b” encountered an ERC20 Permit phishing attack 10 hours ago, resulting in a loss of approximately 2.28 million USDCs. The fraudulent addresses are: “0xdd6cf6483fe5d948e0Aee94d94b8c98f055d1b0”, “0xb6d6c8193cc2d28be229ac208b1cd689653e75d4”, “0x076a3a43b9ed37f9001e58b2418e87333385d4e8”. Slow fog prompt: The stolen funds are all stored in the hacker address “0xCA4DDFFE50720292C9F0530B6F98Ca5e40c046b5”.

Introduction to Scam Sniffer

Scam Sniffer is a web3 anti-fraud tool that aims to combat fraudulent activities on the blockchain. It is designed to detect, analyze, and report scams and phishing attacks that occur on the Ethereum blockchain. It has proven to be a reliable tool for consumers, investors, and businesses alike, as it helps ensure the safety and security of their cryptocurrency transactions.

The Phishing Attack

On May 1st, Scam Sniffer reported that an ERC20 Permit phishing attack occurred, resulting in a loss of approximately 2.28 million USDCs. The attack affected the address starting with “0x36b” and involved several fraudulent addresses, namely, “0xdd6cf6483fe5d948e0Aee94d94b8c98f055d1b0”, “0xb6d6c8193cc2d28be229ac208b1cd689653e75d4”, and “0x076a3a43b9ed37f9001e58b2418e87333385d4e8”. The phishing attack was targeted towards users of the ERC20 protocol, which is a widely used standard for creating and issuing tokens on the Ethereum network.

Slow Fog Prompt

Slow Fog is a Chinese cybersecurity company that specializes in blockchain security. The Slow Fog prompt accompanying the phishing attack report disclosed that the stolen funds are all stored in the hacker’s address, “0xCA4DDFFE50720292C9F0530B6F98Ca5e40c046b5”. Slow Fog has been instrumental in tracking and reporting malicious activities on the Ethereum blockchain.

Impact of the Attack

The phishing attack had devastating consequences for the users of the affected address. The loss of the substantial amount of money, approximately 2.28 million USDCs, can have a severe impact on the individual’s or company’s financial standing. The phishing attack also raises concerns about the overall security of cryptocurrency transactions and how phishing attacks can easily manipulate unsuspecting users.
Nevertheless, the incident highlights the need for increased vigilance by everyone involved in the cryptocurrency ecosystem. Such attacks can happen to anyone, and it is essential to take preventative measures to safeguard your investments.

Preventative Measures

It is crucial to take preventative measures to protect yourself from phishing attacks. One of the most effective ways to avoid becoming the victim of a phishing attack is to double-check the URL before entering any information. When entering sensitive information, look for HTTPS in the URL, as this indicates that the website is encrypted and secure.
Regularly updating your software and installing security patches to protect yourself from vulnerabilities is essential. It is also crucial to keep your cryptocurrency wallets secure by always using two-factor authentication. Lastly, always verify the authenticity of an email, website, or software program before clicking on any link or downloading anything.

Conclusion

In conclusion, the Scam Sniffer phishing attack highlights the importance of cybersecurity and vigilance in cryptocurrency transactions. The attack had serious consequences for the victims and raised concerns about the security of the blockchain. It is essential to take action and precautionary measures to avoid similar incidents in the future. However, it is worth noting that it would be complicated to prevent all of these attacks in their entirety, as hackers can be sophisticated and cunning.

FAQs

1. Why are phishing attacks so frequent in cryptocurrency transactions?
Phishing attacks are common in cryptocurrency transactions because cryptocurrency transactions are irreversible and anonymous, making them a prime target for fraudsters and hackers.
2. Is investing in cryptocurrencies safe?
Investing in cryptocurrency carries significant risks, and anyone considering investing should approach it with caution and do so at their risk.
3. What happens to the victims of phishing attacks?
Victims of phishing attacks usually incur financial losses, and it can have a devastating impact on their financial standing. It is always advisable to be cautious when conducting financial transactions online.
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