A significant development has occurred in the cryptocurrency market concerning a scam that took place in 2023. According to Scam Sniffer, an anti-scam platform in the crypto industry, the scammer responsible for stealing a substantial amount of crypto tokens from a victim has now returned $9.27 million, which accounts for 38.26% of the total amount, in stablecoins. Scam Sniffer took to its official X account to provide the details of this noteworthy development.
The scammer has returned $9.27 million worth of DAI to the victim, as reported by Scam Sniffer. The theft originally occurred in September of the previous year, resulting in the loss of $24.23 million worth of crypto assets for the victim. These assets include rETH and stETH coins. The scammer executed a well-planned crypto phishing attack to deceive the victim, highlighting the increasing sophistication of such scams in the crypto industry.
This event sheds light on the growing trend of phishing scams in the crypto sector, which poses an alarming risk of crypto loss for the community. During the time of the scam, the victim unknowingly gave approvals to the scammer, making a significant mistake. Scam Sniffer emphasized that the victim unintentionally authorized the party behind the scam.
The scammer tricked the victim into approving “increaseAllowance” transactions, which allowed the scammer to gain control over the victim’s assets. This technique is commonly used by scammers to manipulate and take control of the victim’s assets. Additionally, Scam Sniffer revealed that the scammer’s address is associated with various crypto phishing websites. Some of the stolen funds were transferred to @FixedFloat, a service that facilitates quick crypto exchanges.
Tags: DAI