Crypto Whale Loses $55 Million In Massive Hack: Details
Summary
A crypto whale lost $55.47 million in DAI due to a phishing attack, involving the unauthorized transfer of a Maker vault's ownership. The attacker illicitly minted and withdrew DAI tokens, converting half into 10,625 Ethereum. The attack used the Inferno Drainer technique, manipulating transaction permissions. CertiK stressed the critical nature of the exploit and warned about deceptive means used by attackers. CertiK reported total losses in July 2024 of approximately $270.9 million, with exit scams accounting for $3 million, flash loans for $265.8 million, and other exploits for $9.8 million. The total crypto market cap stood at $2.053 trillion at the time of the incident.
