Crypto User Loses Over $900K In Phishing Attack—Here’s How You Can Stay Safe
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A cryptocurrency user lost $908,551 in a phishing attack, cryptocurrency-focused security outfit Scam Sniffer reported last week.
The firm said the exploit was the result of a malicious wallet approval signed by the user on April 30, 2024, citing Ethereum data.
A wallet approval is a permission a user grants to self-executing blockchain programs called smart contracts, decentralized applications or external wallets, allowing them to access tokens in the wallet without requiring manual approval. While the functionality allows for a smoother experience within certain blockchain applications, bad actors often exploit it to gain…
