In a startling incident reported earlier today, Scam Sniffer revealed that a holder of PEPE tokens suffered a staggering loss of $1.39 million in a phishing scheme utilizing the ‘Permit2’ feature of Uniswap.
The theft involved the transfer of various assets, including PEPE, MSTR, and APU tokens, to a new address (0x3076ce666f707776aaf75f6c44f8c4085375a66f) just one hour after the fraudulent activity occurred.
This phishing attack takes advantage of Uniswap’s Permit2 feature, which enables users to approve multiple tokens with a single signature. Unfortunately, once scammers obtain this approval, they can swiftly deplete the victim’s wallet of multiple assets.
The affected individual is the latest victim in a troubling trend of escalating crypto scams, underscoring the critical need for caution when signing transactions. As cryptocurrency adoption increases, so does the potential for such fraudulent schemes.
Users are strongly advised to verify the authenticity of any requests for signatures to safeguard their assets against these deceptive attacks.
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