The post Phishing Scam Drains $7. $66 million in Ethereum through an elaborate scam appeared first on Coinpedia Fintech News
A complex phishing attack has been carried out, resulting in a stolen 2,881 ETH worth of $7. 66 million. As reported by Cyvers alerts, the scam is in the process of pooling the assets and then converting them into Ethereum by swapping against various blockchains. After this, the stolen Ethereum was split and sent to two different wallet addresses. This spate of a high-value phishing attack shows that the threat level of such attacks is increasing day by day, and existing security measures should be strengthened to defend the cryptocurrency environment.