# Crypto victim loses $908K in sophisticated phishing attack Source: https://cointelegraph.com/news/crypto-victim-loses-908k-in-sophisticated-phishing-attack Kiwi News: https://news.kiwistand.com/stories/Crypto-victim-loses-dollar908K-in-sophisticated-phishing-attack?index=0x688f31f1ae2152d0448438022dd68fc76f07270aa421d355c1bb6bc8de4faf54eb5aff11 Submitted by misha on 2025-08-03 UTC, 3 upvotes, 2 comments ## Summary A crypto user lost $908,551 to a wallet-draining scam 458 days after unknowingly signing a malicious ERC-20 approval transaction, according to onchain data. The approval, likely signed through a phishing site or fake airdrop, gave the scammer's wallet "0x67E5Ae" ongoing access to the victim's funds. The scammer, linked to the pink-drainer.eth wallet address, executed the theft on Aug. 2 at 4:57am UTC, and the article says the scammer likely monitored the wallet for about a month before draining it in a single transaction. ## Article A victim lost $908,551 in a crypto phishing scam 15 months after signing a malicious approval transaction. The scammer waited until two large deposits were made before striking. A crypto user lost $908,551 to a wallet-draining scam 458 days after unknowingly signing a malicious approval transaction, onchain data shows. The attack originated from an ERC-20 approval transaction — likely signed via a phishing site or fake airdrop — that gave the scammer’s wallet, “0x67E5Ae,” ongoing permission to access the victim’s funds. The scammer — linked to the notorious pink-drainer.eth wallet address — executed the theft on Aug. 2 at 4:57am UTC, Kraken wallet. Related: $3.5B Bitcoin heist from 2020 retroactively uncovered — Arkham Intel The scammer likely monitored the wallet over the next month, waiting to see if more funds would flow into it before deciding to drain the funds in a single transaction on Aug. 2. This delayed strike is a defining trait of phishing approval attacks: scammers wait around for months, striking only when the victim’s wallet balance makes it worthwhile. Tools already exist to prevent these attacks To help prevent such attacks, Ethereum users can use Etherscan’s Token Approval Checker to review and revoke unnecessary token approvals — though each revocation requires a gas fee. Bad actors and scammers stole over $142 million from the crypto space in July across at least 17 separate attacks, with the exploit of crypto exchange CoinDCX accounting for the most significant loss. Magazine: Inside a 30,000 phone bot farm stealing crypto airdrops from real users Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Phishing Transactions Scams Ethereum More on the subject ## Comments **misha**: Regularly review and revoke old approvals 👉🏼https://revoke.cash/ **freeatnet.eth**: Would you call this attack "sophishticated"?