Chainlink (LINK) holder loses $4.66M in a phishing attack

2023-12-30 16:51

A discouraging development in the cryptocurrency market saw one Chainlink holder losing LINK worth over $4.42 million. Lookonchain revealed the event, labelling it as a phishing attack.

What an unlucky guy!

He got 275,700 $LINK($4.42M) stolen by a phishing attack.

This guy accumulated 290,750 $LINK($2.26M) at $7.8 from exchanges between Jun 7, 2022, and Oct 14, 2023, a profit of nearly ~$2.4M currently.

Unfortunately, he accidentally clicked on the phishing… pic.twitter.com/2FqM72T3f7

— Lookonchain (@lookonchain) December 29, 2023

Meanwhile, the victim accumulated 290,750 LINK coins, worth around $2.26 million between 7 June 2022 and 14 October 2023. The savvy trader’s profits were swelling to nearly $2.4 million in positive developments, including interest in Real-World Asset (RWA) tokenization.

Nonetheless, hell broke loose when the investor clicked on a link and authorized a transaction. Eventually, he lost $2.4M in profits and a $2.26 million cost, translating to a $4.66M total loss.

The Pink Drainer Group perpetrators used the IncreaseAllowance feature to lure the investor. The fraudsters stole 275,700 LINK tokens (through two transactions) immediately after signing the contract.

The IncreaseAllowance feature allows an individual to determine the amount of coins the user permits another address to transfer from his crypto wallet. How the hackers convinced the investor to allow the token transfer remains a mystery.

The Pink Drainer group has been terrorizing the crypto market, responsible for various high-profile hacks on different platforms. Dune Analytics data shows the hackers stole assets worth around $18.7M from over 9K users.

Source – Dune Analytics

The recent event shows how genuine investors suffer in the cryptocurrency market. Scammers orchestrated various rug pulls and cyberattacks in 2023, stealing digital coins worth around $2 billion in the past twelve months. While the number remains huge, it is the first time the trend has plunged since 2020.

The post Chainlink (LINK) holder loses $4.66M in a phishing attack appeared first on Invezz

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Источник: invezz.com

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