Crypto Whale Loses 1,155 BTC to Phishing Attack: A Reminder of the Importance of Security

According to U.Today, a cryptocurrency whale suffered a significant loss after mistakenly transferring 1,155 Bitcoin (BTC) to a phishing wallet address. The incident, which occurred on the evening of May 3, Beijing time, saw the whale lose approximately $71 million. This unfortunate event underscores the critical importance of security in the world of cryptocurrency. The attacker was able to monitor the whale's blockchain activity and noticed the creation of a new address. The hacker then generated a similar address and conducted a small transaction to include this phishing address in the transaction history. The whale, upon seeing the phishing address in their transfer history, mistakenly copied it, thinking it was their own. The hacker, monitoring the phishing address, quickly transferred the received 1,155 BTC to a new address upon receipt. The incident indicates that the hacker was well-prepared and utilized significant computational power, suggesting an organized effort rather than an individual act. The speed and precision of the attack suggest the use of automated scripts and access to considerable resources. To safeguard digital assets, it is recommended to create private keys and mnemonic phrases offline and store them securely. Hardware wallets can provide additional security, but it's crucial to back up private keys. If there's suspicion of a compromised private key or mnemonic phrase, it should be replaced immediately, and assets should be transferred. Transfer addresses should be stored in an address book with notes, and temporary copying of addresses should be avoided. Small test transfers should be performed and confirmed successful with the recipient before large transactions. For large transfers, consider splitting them into multiple smaller transactions. Avoid clicking on transfer links or online transactions sent by others, and always verify links and addresses independently. For larger fund management, consider using multi-signature methods to add an extra layer of security.