A cryptocurrency whale has fallen victim to a massive phishing attack, losing millions of dollars in staked Ethereum on the liquid staking provider Rocket Pool.<\/p>\n
A large cryptocurrency investor lost the entire address balance of Lido Staked ETH (stETH) and Rocket Pool ETH (rETH) due to a phishing attack, the cryptocurrency security firm PeckShield reported<\/a>.<\/p>\n The hack was completed in just two transactions, as one had<\/a> 9,579 stETH stolen and the other involved<\/a> 4,851 rETH.\u00a0At the time of the attack, which occurred on Sept. 6, the stolen amounts were worth $15.5 million in stETH and $8.5 million in rETH, a staggering $24 million combined.<\/p>\n According to PeckShield data, the phisher subsequently swapped the stolen assets for 13,785 Ether (ETH<\/a>) and 1.64 million Dai (DAI<\/a>) tokens.<\/p>\n A significant portion of the DAI stash has already been transferred into the fully automatic cryptocurrency exchange FixedFloat, PeckShield reported.<\/p>\n SlowMist\u2019s crypto tracking team MistTrack also reported<\/a> that the most of the remaining stolen funds were transferred to three addresses, including 0x4f2f02ee<\/a>, 0x7023505<\/a> and 0x2abdc2ab<\/a>.<\/p>\n Related: <\/em><\/strong>MetaMask scammers take over government websites to target crypto investors<\/em><\/strong><\/a><\/p>\n According to data from the anti-scam source, Scam Sniffer, the victim enabled<\/a> token approvals to the scammer by signing \u201cIncrease Allowance\u201d transactions.<\/p>\n Allowance or access permissions are a feature of ERC-20 tokens<\/a> which enable<\/a> a third party to have the right to spend some tokens that belong to a different owner, using smart contracts. Some cryptocurrency observers have previously warned<\/a> against risks associated with approving ERC-20 allowances, noting that anonymous developers could deploy malicious smart contracts to scam users.<\/p>\n The news comes soon after at least five Ethereum liquid staking providers imposed or started working to impose a self-limit rule in which they promise not to own more than 22% of the Ethereum staking market. The providers reportedly included Rocket Pool, StakeWise, Stader Labs and Diva Staking.<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-09\/1324cc0c-65cb-4e09-befa-2bd877252176.png\")