A Trader Lost $11 Million In a Defi Phishing Attack
A trader lost $11 million worth of aEthMKR and Pendle USDe tokens by a MakerDAO governance delegate in a phishing attack within the decentralized finance (DeFi) ecosystem.
According to Scam Sniffer, The victim, whose address is 0xfb…accfa, fell prey to a sophisticated phishing scheme, signing multiple Permit signatures that ultimately allowed the scammer, with address 0x73…bb96, to drain their assets.
Scam Sniffer Reveal Phishing Attack
This incident, coupled with the recent “hack” of emails at exchanges involving USDT, raises significant concerns about the depth and reach of malicious actors within the DeFi space.
An X user states, “The manipulation of market sentiment through such attacks is a worrying trend. The “quick pump” mentality, prioritized by some, undermines the crucial principle of maximum security that should be foundational to any decentralized platform. Additionally, the pursuit of scalability at the cost of security creates a precarious ecosystem, leaving users vulnerable to exploitation.
A User asserted, “USDe suspect 2 how deep does this go manipulation everything started at USDT “hack of emails with exchanges take these serious”.
An X user stated their preference “Too bad they get to learn too late because all they after is the quick pump undermining the imperative need for maximum security which eventually yields desired scalability. However, I choose human-readable transactions I choose Radix.
A MEV Bot Amass 250K $SOL($34M) in Two Months Using This Strategy
A MEV bot, operating under the enigmatic wallet address “9973hW…wzyWp6,” amassed a staggering $34 million in just two months. The bot could execute transactions milliseconds before other users by analyzing the blockchain for profitable arbitrage opportunities, effectively scooping up the best deals. Its targets included popular tokens like $SOL, $RNT, $TOPG, and $MOTHER, generating millions in profits for its anonymous creators.
The infamous maximal extractible value (MEV) sandwich bot, known as “arsc,” has pocketed around $30 million from Solana users through MEV attacks in the last two months.
MEV (Miner Extractable Value) sandwich attacks involve an attacker inserting their transactions around a victim’s transaction to manipulate prices and profit. The attacker can profit from this activity by buying the victim’s token at a lower than market value and selling it in the same block.