SecurityCointelegraphabout 2 hours ago
Trader loses $1M after signing phishing token approval
1 min read
A crypto user lost 999,999 USDT on Wednesday after signing a phishing token approval on Ethereum. Scammers first attempted a $1 million multicall drain but failed due to insufficient funds, then recalculated and pulled the exact remaining balance in three follow-up transactions. Phishing losses totaled $723 million across 248 incidents in 2025.
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