Public statements and analysis by crypto security experts

Crypto Whale Loses 15,079 fwDETH ($35M) in Phishing Attack, Causing dETH Depeg

Oct 11, 2024, 07:48 AM

A crypto whale, possibly linked to a crypto venture fund, has lost approximately $35 million worth of tokens in a phishing attack after unknowingly signing a fraudulent "permit" signature six hours ago. The individual lost 15,079 fwDETH, a token obtained by depositing ETH on DuoExchange at a 1:1 exchange rate. Following the theft, the exploiter dumped dETH on decentralized exchanges, causing the price to plummet to as low as 0.06 ETH before stabilizing around 0.27 ETH, effectively causing a depeg of dETH. The victim's address is 0xEab23c1E3776fAd145e2E3dc56bcf739f6e0a393. The phishing attack underscores the importance of exercising caution when interacting with crypto assets and avoiding signing unknown signatures.