Investors Lose 2 Million Dollars in Ethereum Due to Sneaky Phishing Scheme

Bittime - A recent phishing attack has cost a crypto investor huge losses. The investor lost 501 ETH, which was worth around $2,000,000 or around IDR 14 billion staked via the Ether.Fi liquid restaking protocol. 

On-chain data revealed that the theft occurred in early March 2024 and involved two transactions. Initially, 426 ETH was spent, followed by an additional 75 ETH in subsequent transactions. 

At the time of the incident, the stolen funds were worth approximately $1.6 million and $276,000 respectively, causing investors' wallets to drop by more than 99.93%, leaving a paltry balance of just $1,453.

Devious Phishing Schemes

Specific details about the phishing scheme have not been made public. However, considering the amount of losses experienced, this attack is suspected to be a sophisticated phishing scheme. 

Phishing attacks typically target users' personal information, such as seed phrases or login credentials, via email, instant messaging, or fake websites created to look as similar as possible to legitimate services.

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Crypto Losses due to Phishing Soar

This incident is an important reminder of the importance of being vigilant against phishing attacks in the crypto world. According to CryptoSlate, phishing attacks have caused losses of more than 100 million US dollars from nearly 100,000 victims so far this year alone.

Tips to Avoid Phishing

• Be alert to suspicious messages: Never click on links or download attachments from unknown emails or text messages, even if they appear to come from a service you use.
• Check the URL carefully: Make sure you are on the official website before entering your login information. Phishing websites often have URLs similar to legitimate websites.
• Never share your seed phrase: Your seed phrase is the access key to your crypto wallet. Never share it with anyone, including parties claiming to be official services.
• Use a hardware wallet: Hardware wallets provide additional security by storing your seed phrase offline.

By following these steps, you can help protect yourself from phishing attacks and keep your crypto assets safe.

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How to Buy Ethereum (ETH) on Bittime

You can buy and sell  Ethereum (ETH)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Ethereum (ETH) is available on Bittime with the market pair ETH/IDR .  To be able to buy  ETH/IDR  at  Bittime,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on  Bittime  is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Ethereum (ETH) on Bittime. 

Monitor price chart movements   for Ethereum (ETH) , Bitcoin (BTC) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Pig Butchering Scam: Understanding an Alarming Crypto Fraud Scheme

Trezor Confirms Data Leak, Phishing Threat Lurks Users

Feedzai: Your Shield Against Financial Fraud

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.