Crypto Whale Loses Another $25.6M to Phishing Attack as Weekly Hacks Top $37 Million
The crypto market saw a significant loss of $37 million due to various hacks and breaches in the week of August 9-15. The biggest single-victim loss was suffered by an unidentified 'crypto whale' who lost $25.6 million in a repeat phishing attack on August 12. This is the second time this wallet has been targeted, with a similar incident occurring in September 2023 where it lost approximately $24.2 million.
The attacker used a basket of assets including WBTC, cbBTC, LDO, USDS, and CRV to drain the funds, which were then consolidated into DAI and ETH sitting across four attacker-controlled addresses. As of mid-week, no portion of the stolen assets had been returned. The exact method of the breach is still unknown, with security researchers considering both a fresh signature-phishing prompt and direct private-key compromise as possibilities.
Other notable incidents include a $7.9 million cross-chain breach at Coinsbuy, a suspected 4 billion ONE mint on Harmony Protocol, a 200,000 XRP theft from the Coreum-XRPL Bridge, an unauthorized minting incident at Oraichain, and a pricing-logic flaw at USM Protocol.