Key Points
An unidentified entity, believed to be linked to a cryptocurrency venture capital fund, has reportedly suffered a significant loss. The entity lost over $35 million in Ethereum (ETH) tokens due to a malicious permit transaction.
In a post shared by blockchain monitoring account Lookonchain, it was reported that the entity lost 15,079 fwDETH. These are wrapped ETH tokens on Blast’s chain. The loss was a result of a “permit” phishing signature.
Price Impact and Alleged Attacks
Following the incident, the price of fwDETH fell drastically. It dropped more than 95% in its trading pair with fwWETH before recovering to a 40% decline. According to a user known as @roffett_eth, the price drop led to attacks on PAC Finance and Orbit Finance. However, the details of these alleged attacks remain uncertain.
The cryptocurrency sector has seen an increase in sophisticated phishing attacks. These attacks often mask themselves as legitimate requests for user permissions. This particular case appears to have exploited user trust in digital signatures, highlighting the ongoing risks within the crypto landscape.