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DeFi News

Crypto Whale Lost $24M Worth stETH and rETH In Phishing Scam

Onchain data reveals the hacker has transferred 701 ETH to the crypto mixer Tornado Cash.

Written By:
Gopal Solanky

Last updated: December 11, 2024 12:34 AM
Published 2023-09-08
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Crypto Whale Lost $24M Worth stETH and rETH In Phishing Scam

An anonymous user has lost approximately $24.23 million of crypto assets in a phishing scam. The stolen assets include 9579 stETH and 4850 rETH.

The Web3 scam reporter, Scam Sniffer, shared a post citing that the user has lost a total of $24.23 million of crypto by giving token approval to the scammer. 

The victim approved token transfers by signing ‘increaseAllowance” transactions to an address that is reportedly associated with many phishing sites.  

A crypto tracking and compliance platform, MistTrack said that the scammer has transferred some of the funds to Fixed Float, an instant crypto exchange, while sending most of the remaining funds to three different addresses.

In a latest update, MistTrack shared that the hacker has transferred 701 ETH to the crypto mixer Tornado Cash.

While tracking down the attack, MistTrack asked the victim to contact their team as they can provide information regarding the hacker.

Also Read: British Woman Lost Around $200,000 of Her Life Savings in a Crypto Scam

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Gopal Solanky, Senior Reporter for Markets and Protocols at The Crypto Times
By Gopal Solanky Sr. Crypto Journalist
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Gopal Solanky is a Senior Reporter, Markets & Protocols at The Crypto Times, based in Ahmedabad. He covers institutional crypto adoption, Bitcoin treasury strategies, DeFi markets, protocol ecosystems, Ethereum network activity, Hyperliquid, on-chain trends, and broader digital asset market movements. Gopal has been active in the crypto ecosystem for more than six years. Before joining The Crypto Times full-time in 2023, he worked as a freelance crypto content writer, developing a strong understanding of blockchain infrastructure, DeFi protocols, market cycles, token mechanics, and peer-to-peer systems. His reporting focuses on explaining how protocols work, why market movements happen, and how institutional and on-chain activity affects crypto investors and builders. At The Crypto Times, Gopal regularly writes market analysis, protocol explainers, breaking news, and technical breakdowns across Bitcoin, Ethereum, DeFi, altcoins, treasury companies, and Web3 infrastructure. He also conducts on-the-record interviews with regional Web3 founders, protocol teams, and ecosystem leaders. His work has been cited by external publications, including Vulture.com, in coverage of major crypto stories such as the Hawk Tuah memecoin controversy. His reporting has also contributed to The Crypto Times’ coverage of major industry events, including FTX-related developments, institutional crypto adoption, and emerging protocol narratives. Gopal holds a Bachelor’s degree in Computer Applications, giving him a technical foundation for analyzing blockchain systems, crypto infrastructure, and market data.

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