News View Non-AMP

Crypto Whale’s $36 Million Loss in fwDETH Phishing Attack Triggers Market Crash

Published by
Qadir AK

In a shocking crypto heist, a whale accidentally lost $36 million in fwDETH after signing a phishing signature that looked like a legitimate ‘permit.’ The victim, likely linked to @ContinueFund, lost 15,079 fwDETH in this attack. The phishing scam was discovered by Scam Sniffer, a blockchain security detection agency.

Want to learn more about the details of this high-stakes heist?

Crypto Market Chaos

The hacker, identified by the wallet address 0x06…16eC, quickly sold off the stolen fwDETH, resulting in a significant drop in the dETH market. This decentralized asset, which is usually pegged at a 1:1 ratio, plummeted in trading on DuoExchange, hitting lows of 0.06 ETH and fluctuating around 0.27 ETH.

High Stakes of Phishing

The breach serves as a stark reminder to crypto users. The main advice, always read signatures before signing ones and not click on unknown links. To avoid getting phished, it’s always best to double-check the details while signing signatures. 

The consequences in the decentralized finance space are that a single phishing signature costs millions of dollars – just as in this attack.

A costly lesson learned: Always verify, never trust.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

BTC Price Volatility Spikes Up—Is it a Good Time to Buy Bitcoin?

The US markets are experiencing one of the massive pullbacks, with major stocks plunging by…

April 3, 2025

Forget PEPE – Influencer Pepe (INPEPE) is the Future of Meme Coins with Real Utility!

PEPE hopped its way to a $3.8 billion market cap, but its reign as a…

April 3, 2025

Ripple (XRP) Eyes $10 as Ruvi AI (RUVI) Captures Investor Attention with Huge Growth Potential During Presale Phase 1

Ripple’s (XRP) recent rally from $2.00 to $2.20 has sparked excitement among cryptocurrency enthusiasts. This…

April 3, 2025

How High Can Influencer Pepe Go? Expert Predictions for 2025-2030!

The crypto circus has a new ringmaster: Influencer Pepe (INPEPE). This Pepe-the-Frog-inspired token is making…

April 3, 2025

Crypto Bloodbath: Solana, XRP, and Dogecoin Take Double-Digit Hits, Is Your Altcoin Safe?

The global cryptocurrency market took a major hit today, with the total market capitalization falling…

April 3, 2025

Just In: Michael Saylor Says ‘There Are No Tariffs on Bitcoin’

The cryptocurrency market took a nosedive Thursday, with Bitcoin and its digital cousins feeling the…

April 3, 2025