Cryptocurrency whales have fallen victim to a massive phishing attack, losing millions of dollars in Ethereum staked on liquidity staking provider Rocket Pool.

Large Cryptocurrency Investor Lost Entire Address Balances of Lido Staked ETH (stETH) and Rocket Pool ETH (rETH) Due to Phishing Attack, Cryptocurrency Security Firm PeckShield Claims report.

The hacker did it with just two transactions, one of which have 9,579 stETH stolen, the rest involves 4,851 rETH. At the time of the September 6 attack, $15.5 million in stETH and $8.5 million in rETH were stolen, for a total of a staggering $24 million.

Phishers made $24 million worth of transactions in phishing hacks. Source: X

The phishers then exchanged the stolen assets for 13,785 ether (ETH) and 1.64 million dai (DAI) tokens, according to PeckShield data.

As reported by PeckShield, a large portion of the DAI reserve has been transferred to the fully automated cryptocurrency exchange FixFloat.

SlowMist’s cryptocurrency tracking team, MistTrack, also report Most of the remaining stolen funds were transferred to three addresses, including 0x4f2f02ee, 0x7023505 and 0x2abdc2ab.

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According to data from anti-scam source Scam Sniffer, victims activated Token approval is granted to scammers by signing an “increase allowance” transaction.

Take an “increased limit” approach to phisher transactions. Source: Etherscan

Permission or access is a function of ERC-20 tokens, enable A third party has the right to spend some tokens belonging to different owners using a smart contract.Some cryptocurrency watchers have previously stated that warn Guard against the risks associated with approving ERC-20 quotas, noting that anonymous developers could deploy malicious smart contracts to deceive users.

This comes shortly after at least five ethereum liquidity staking providers implemented or began working towards implementing self-limiting rules, pledging not to own more than 22% of the ethereum staking market share. These providers reportedly include Rocket Pool, StakeWise, Stader Labs, and Diva Stake.

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