Crypto whale loses $36M in major phishing scam causing DETH depeg

tldr; A crypto whale lost $36 million in a phishing scam, leading to the depegging of DETH from ETH. The attack, linked to the Angel Drainer phishing group, involved draining 15,079 fwDETH. The stolen DETH was swapped for ETH, but insufficient liquidity resulted in a major decoupling, causing the value to drop by 85%. The incident affected DeFi markets, with Duo Exchange acknowledging the attack but assuring protocol safety. Phishing scams remain a significant issue, contributing to substantial losses in the crypto sector.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Not surprised it’s on Ethereum, scam central .