Cryptocurrency [loss] $55M+

Tweet by Lookonchain

2024-08-20 [vendor] Crypto holder [chain] ethereum
Primary Source ↗
Financial Loss $55.5M (55,473,618 USD)
Blockchain(s) Ethereum

Incident Details

Someone holding almost $55.5 million in the DAI stablecoin was apparently phished, signing a transaction to reassign ownership of their DAI stash to a phishing address. The victim appeared to realize their error several hours later, attempting to withdraw the tokens only to have the transaction fail since they were no longer the owner of the assets.The attacker later moved the stablecoins to a new wallet, and exchanged about half of them for 10,625 ETH.

Total loss estimated at $55,473,618.

Technical Details

Initial Attack Vector
Phishing attack
Vendor / Product
Crypto holder

Timeline

  1. 2024-08-20 Breach occurred
  2. 2024-08-20 Publicly disclosed