Phishing Attack Costs MakerDAO Delegate $11.1 Million in Crypto

On June 23, an unknown perpetrator conducted a phishing attack, resulting in a user losing $11.1 million in various cryptocurrencies. Analysts at Lookonchain highlighted the incident. 

Someone lost $11.1M in a phishing attack 5 hrs ago!

He was exploited for 3,657 $MKR($8.7M) and 2.56M PT Ethena tokens($2.4M).

The exploiter sold 3,657 $MKR for 2,502 $ETH($8.7M), causing the price of $MKR to drop by 7%.

And swapped 2.56M PT Ethena tokens for 689 $ETH($2.41M).… pic.twitter.com/PNcQNCZ9Pc

— Lookonchain (@lookonchain) June 23, 2024

The attacker withdrew 3,657 MKR ($8.7 million) and 2.56 million Pendle USDe ($2.4 million) from the victim’s address. Subsequently, they exchanged 3,657 MKR for 2,502 ETH ($8.7 million) and 2.56 million Pendle USDe for 689 ETH ($2.41 million).

Following the incident, the price of MKR fell by 7% and continues to decline at the time of writing.

According to data from Arkham Intelligence, the phishing victim was a delegate of MakerDAO. 

Analysts at Scam Sniffer determined that the theft occurred due to the victim signing several phishing permissions to interact with their address.

?? 5 hours ago, a victim lost $11 million worth of aEthMKR and Pendle USDe tokens due to signing multiple Permit phishing signatures. pic.twitter.com/9jhgQMdkl9

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) June 23, 2024

Earlier, on June 22, hackers attacked the Turkish cryptocurrency exchange BtcTurk. Losses from the breach are estimated at $54 million.