Crypto investor loses $2.5M in stablecoins in double phishing scam
A single victim has been scammed two times within three hours, losing a total of $2.5 million in stablecoins.
According to data shared on May 26 by crypto compliance firm Cyvers, the victim sent 843,000 worth of USDt (USDT) followed by another 2.6 million USDt around three hours later. Cyvers said the scam used a method known as a zero-value transfer, a sophisticated form of onchain phishing.
Zero-value transfers are an onchain phishing technique that abuses token transfer functions to trick users into sending real funds to attackers. The attackers exploit the token transferFrom function to transfer zero tokens from the victim’s wallet to a spoofed address.
Since the amount transferred is zero, no signature by the…
