[Stanley]

Venus Protocol user suffers $13.5M loss from phishing attack




Venus Protocol paused the platform to conduct security reviews but said the $13.5 million loss was not linked to a flaw in its contracts.



https://cointelegraph.com/news/defi-trad...er_inbound

[JoseMar]

Venus Protocol user suffers $13.5M loss from phishing attack




Venus Protocol paused the platform to conduct security reviews but said the $13.5 million loss was not linked to a flaw in its contracts.



https://cointelegraph.com/news/defi-trad...er_inbound

So the protocol itself is fine, but the user got phished🙄. That's somehow even more brutal. You can have the most secure system in the world, and it just takes one tricky link. A $13.5 million mistake... wow.

[sharn]

Phishing attacks are becoming more sophisticated, making them harder to detect.
Users must remain cautious and skeptical of unexpected requests.

[Yanix]

Sad to see another huge phishing loss. Even solid platforms like Venus can’t protect you from social engineering

[Chornaya Magiya]

Phishing attacks are becoming more sophisticated, making them harder to detect.
Users must remain cautious and skeptical of unexpected requests.

Am confused how they pulled this off via phishing

[Hackers]

Am confused how they pulled this off via phishing

There are a number of ways, depending on the victim's setup.
Keep in mind that people are silly and re-use passwords or variations.
They could've phished him elsewhere, gained access to 2FA, got access to a holding contract, withdrawn funds, etc -- I don't know.

It sounds like that if it's "phishing" in the traditional way, there was 2FA or a convenience password (browser wallets for example) in use.
If it's a modern take on the word "phishing", then perhaps they tricked the victim into authorizing a transaction, or signing some sort of access / delegate address.

Really depends - I don't know enough but can think of how a cybercriminal could "phish" in the crypto space.