Crypto User Loses $999,999 in USDT to One Phishing Signature: How to Stay Safe
The post Crypto User Loses $999,999 in USDT to One Phishing Signature: How to Stay Safe appeared on BitcoinEthereumNews.com. An unidentified crypto user lost $999,999 in USDT to an Ethereum phishing attack after signing a fraudulent token approval request. On-chain records show the attackers split the stolen funds into three transactions. The transfers landed inside Ethereum blocks 25489460 and 25489463 within minutes of the signature. Token approval phishing remains one of the most persistent threats in decentralized finance. Attackers do not need a victim’s private keys to steal funds. Instead, they trick users into signing a request that grants a contract broad access to a token. The approval then stays active until someone revokes it. Inside the Ethereum Phishing Attack This pattern has hit crypto users repeatedly through 2026. The victim’s wallet held an unlimited allowance for the token, which gave the attacker room to act without any further confirmation. In May, a fake Uniswap