A crypto user lost 97 stETH, worth $465,802, after signing a fake phishing signature. This incident, reported today, highlights the ongoing threat of scams in the crypto market.
$466K Vanishes in Phishing Attack
Earlier today, Scam Sniffer, an on-chain security platform, reported that a user lost their stETH after signing a phishing “permit” signature. This method tricks users into giving scammers access to their wallets. The scammers took the stolen funds within minutes, with the transaction visible on the Ethereum blockchain.
The victim likely clicked on a fake link or went to a deceptive website that looks like a real one. This is a common trick used in phishing scams. These attacks often take advantage of the victim’s trust by offering tempting deals or misleading requests, like “increaseAllowance,” to trick people into giving away personal information or allowing unauthorized access.
This incident is another clear example of the serious crypto thefts happening in 2025, showing the ongoing weaknesses in digital security in the crypto world. This case is similar to an incident that happened earlier this August when a crypto user lost $3.05 million in USDT due to a phishing scam. The scam involved a harmful ERC-20 token transfer that took advantage of weaknesses in the user’s crypto trading activities.
Effort to Combat Scams
On-chain security platforms like Scam Sniffer, PeckShield, and ZackXBT have played key roles in tracking and exposing phishing scams. For example, PeckShield’s alerts helped uncover a theft of $3.5 million that hit Arcadia Finance, a liquidity management layer on the Base network, in July this year. Similarly, crypto sleuth ZachXBT uncovered a massive Bitcoin theft and laundering scheme involving 3,520 BTC, currently worth over $396 million.
Phishing scams that steal millions in stETH show weaknesses in the crypto system. Security platforms are working hard to track these threats, but scammers quickly adapt and exploit trust in digital systems. Even small mistakes can lead to big financial losses. The $466,000 theft highlights the difficulties in protecting the future of cryptocurrency.
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