$11M tokens stolen from MakerDAO delegates in phishing scam
The MakerDAO management delegation lost $11 million worth of Aave Ethereum (aEthMK) and Pendle USDe tokens to a phishing scam after signing multiple phishing signatures.
Scam Sniffer discovered the incident in the early hours of June 23. After signing several phishing signatures, the user falls victim to the phishing scam, resulting in the loss of their digital assets.
The loss.
The sender address, 0xfb94d3dd3dd3dd3dd3dd3dd3d68f5852545252525252525254Bd55BD55Bd56Bd55E36Bd556Bd556BD5E36Bd556BD5E3655545555555455455555555555 5555555555555555555555555555555555555555555555555555555555555: Victory was guaranteed.
Crypto reporter Colin Wu reports that Arkham has discovered that the victim in the case is a representative of MakerDAO management. The agent plays a key role in the MakerDAO system, contributing to its smooth operation and decision-making processes.
Delegates are responsible for voting on management proposals, management elections, and executive votes, which affect significant decisions in the maker protocol.
Typically, token (MKR) holders and representatives vote to decide on resolutions, which move from initial votes to final executive votes.
If a proposal is approved, after a waiting period it is implemented into the manufacturer's protocol, known as the Management Security Module (GSM), which acts as a security measure to prevent accidental changes to the protocol.
Phishing scams
In December, Cointelegraph reported that crypto fraudsters are increasingly turning to “authentication phishing” techniques to steal funds.
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Authentication Phishing is a crypto scam where victims are tricked into signing a transaction that allows them to access a wallet that allows them to withdraw their funds. While this isn't new, according to Chinalysis, the technique is now often used by pork scammers.
Phishing scams are a common cybercrime where criminals pretend to be reputable entities to trick individuals into providing sensitive information. In this case, the user was tricked into signing multiple authorization network phishing signatures, which lost their tokens.
According to a Fraud Sniffer report published earlier in the year, phishing scams will cost 320,000 users $300 million in 2023 alone.
Among the most serious cases in Scam Sniffer's report, one victim lost $24.05 million in phishing signatures such as License, License 2, Approval and Allowance Increase.
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