A crypto holder lost more than half a million dollars after signing a malicious transaction on a fake cross-chain bridge.
Web3 security platform Scam Sniffer reported the incident on Jan.6, posting on X that the victim lost more than $520,000 in Chainlink (LINK) to a malicious crypto bridge.
On-chain details reveal that the victim signed the fake transaction on Jan. 4, resulting in the loss of 22,415 LINK tokens, valued at approximately $525,196 at the time. According to Scam Sniffer, the attackers targeted Telegram-based decentralized finance groups and exploited users seeking faster bridging solutions.
The incident comes just days after a report on DeFi attacks indicated that the ecosystem lost $494 million to wallet drainer phishing scams in 2024. More than 332,000 addresses were compromised over the 12-month period, marking a 67% year-over-year increase in losses. Affected wallets rose by 3.7% during the same period.
According to the research report, wallet drainer attacks intensified through the year, and the largest single crypto theft via these attacks exceeded $55.4 million.
In December 2024, Scam Sniffer detailed how attackers were using Google ad campaigns to steal funds from unsuspecting crypto holders. For instance, fake ads led users to a fraudulent Pudgy Penguins website, resulting in stolen funds.
Blockchain security firm SlowMist also revealed last month that attackers had turned to Zoom to target crypto users.
As such incidents remain prevalent, Scam Sniffer advises users to take precautions such as verifying URLs and avoiding links from strangers. The platform also warns against trusting individuals who appear overly eager to help, as urgency is a common tactic used by scammers.
If someone’s “helping” seems too eager, be extra cautious. Take your time to verify – urgency is often a scammer’s tool,” Scam Sniffer wrote on X.
