Major Crypto Theft: $24 Million Drained from Ethereum Wallet in Phishing Scam

Major Crypto Theft: $24 Million Drained from Ethereum Wallet in Phishing Scam

In a significant crypto heist, an unknown individual has reportedly lost access to a staggering $24 million worth of crypto from their Ethereum wallet.

The incident, believed to be the result of a phishing scam, stands as one of the largest individual crypto thefts to date, crypto news outlet The Block reported on Thursday.

The stolen assets included 4,851 Rocket Pool ETH (rETH), worth some $8.5 million, and 9,579 Lido Staked ETH (stETH), amounting to around $15.6 million based on current prices.

The victim's digital wealth was drained from the Ethereum wallet in a swift manner, which shows just how targeted and professional crypto-focused phishing scammers have become.

IT security firms such as Beosin and BlockSec have analyzed the incident and have pointed towards phishing tactics as the likely modus operandi.

According to these experts, the victim appears to have fallen for a phishing scheme that led them to unwittingly authorize malicious transactions from an Ethereum wallet.