An unidentified user lost $55.47 million in DAI stablecoin on the DeFi platform MakerDAO due to a phishing attack, as noted by Lookonchain.
A whale lost 55.47M $DAI in a phishing attack!
How did it happen??
The whale carelessly signed an unknown transaction 13 hours ago, setting the owner of his 55.47M $DAI in Maker to the phishing address”0x0000db5c…41e70000″.https://t.co/jpIz4pD043
When he later tried to… pic.twitter.com/qOkkcbYp4q
— Lookonchain (@lookonchain) August 21, 2024
The incident was also noted by renowned on-chain sleuth ZachXBT and experts from the platform Scam Sniffer.
Experts highlighted that the investor “carelessly” signed an unknown transaction, designating the phishing address as the asset owner.
Realizing the mistake, the whale likely attempted to withdraw the funds, but the protocol blocked the operation due to the confirmed change of ownership.
The perpetrators almost immediately exchanged 27.5 million DAI for 10,625 ETH.
“Always double-check a transaction before clicking confirm, and do not authorize unknown requests,” urged Lookonchain.
Earlier in 2024, hackers stole nearly $1.6 billion in cryptocurrencies, with the focus of attacks shifting from DeFi projects to centralized exchanges, according to Chainalysis.