An account linked to the September 2023 phishing attack moved $10 million in ETH to the Tornado Cash cryptocurrency blending protocol. On March 21, blockchain security firm CertiK flagged an account linked to a $24 million hack during which $3,700 ETH was transferred to Tornado Cash. The funds were taken from the crypto whale wIn a phishing incident on September 6, 2023.
At the time, a trader lost $24 million in ETH staked with liquid stakes provider Rocket Pool. The hack took place in two transactions: one took 9579 stETH and the other depleted 4851 rETH from the cryptocurrency.
The anti-fraud project Scam Sniffer said the victim signed an "Increase Benefit" transaction, which enabled the hacker to validate the token. With smart contracts, the feature allows third parties to issue ERC-20 tokens belonging to others if they get approval.
There has been a lot of talk in the crypto space about the token allocation feature, and some have warned users about how developers can implement malicious smart contracts for fraudulent purposes.
Blockchain security firm PeckShield reported that the attacker swapped assets for 13,785 ETH and 1.64 million DAI. Some of the DAI was transferred to the FixFload exchange, while most of the stolen assets were transferred to other wallets.
Phishing attacks continue to be a huge headache in the crypto space. The Scam Sniffer report on cryptophishing shows that nearly $47 million was lost to cryptocurrency scams in February.
The report highlights that 78% of the thefts took place on the Ethereum network , and ERC-20 tokens accounted for 86% of all stolen assets.
