Crypto Whale Loses $25.6 Million 2 Years After $24 Million Phishing Attack

A crypto whale suffered a $25.6 million wallet drain in a security incident that highlights ongoing phishing and approval-based attack risks in DeFi. According to PeckShield and onchain analyst Specter, the attacker swapped stolen assets including WBTC, cbBTC, LDO, USDS, and CRV into DAI and ETH, then spread the proceeds across four addresses. The event is especially notable because the same wallet was previously hit by a $24.24 million phishing attack in September 2023, when the attacker later returned about 90% of the funds. The repeated loss brings the address’s total losses to nearly $50 million and adds to an already active month for crypto hacks, underscoring persistent security vulnerabilities and potential recovery uncertainty for victims.