A user falls victim to a sophisticated phishing scheme, resulting in a $32 million loss of spWETH.

On September 27, a wallet ending in "e57" was drained of 12,083 Spark Wrapped Ethereum tokens (spWETH), worth $32 million, in a highly advanced phishing attack. Security firm CertiK reported that 10,000 spWETH, valued at roughly $26 million, was first sent to a wallet starting with "0x471c." Parts of these funds were then distributed across four other wallets. $2,674.69 went to a wallet beginning with "0x105c," 2,613 ETH was transferred to "0x278d," another 3,730 ETH was sent to "0x408d," and around 1,865 ETH ended up in a wallet starting with "0xfaf2."

Crypto phishing attacks saw a sharp 215% rise in August 2024, with total losses exceeding $66 million, according to Scam Sniffer’s report. One notable case involved a wallet losing $55 million in a phishing attack aimed at the victim’s proxy ownership.

A September 2024 report from Blockaid highlighted the upgrade of the notorious Angel Drainer phishing software to a more advanced version called AngelX. The new software launched over 300 phishing decentralised applications (DApps) in just four days. Blockaid expressed concern that AngelX was targeting emerging blockchain networks like The Open Network. One of the most troubling aspects of AngelX is its enhanced control panel, which gives attackers greater ability to craft customised and more sophisticated phishing schemes.