In a stark reminder of the persistent threats in the cryptocurrency space, ScamSniffer recently reported a significant phishing incident on October 7, 2025. A victim lost $96,352 worth of assets after unknowingly signing a malicious “permit” signature, a common tactic used by scammers to exploit crypto wallets. The transaction, confirmed within eight seconds on the blockchain, involved transfers of 19,285.89707 USDC ($19,280.23) and 77,143.588281 USDC ($77,120.91) to two separate scammer addresses. This incident, detailed in ScamSniffer’s latest alert, underscores the growing sophistication of phishing attacks targeting unsuspecting users.
Wallets and Addresses Linked to the Fraud
The attack leveraged a fake phishing signature, a method where scammers trick users into authorizing transactions off-chain. Once signed, these permissions allow hackers to drain funds without the victim’s immediate knowledge.
The victim’s wallet address (0xf8751cd9e5df2daa464e2ae4f856763cc4554142) was compromised, with funds redirected to scammer addresses (0x2Ab75aF4A74C8528F0f4D3f0D522719761b707FB and 0x64437C40f366440cbbb12B2B9830c7d5fA3e91fc). This follows ScamSniffer’s September 2025 report, which highlighted “permit” signature phishing as a dominant threat, with a single loss of $6.5 million noted earlier.
Education Is the Key to Prevention
Protecting oneself from such scams requires vigilance. Users should double-check all signature requests, avoid rushing into transactions, and install security tools like the ScamSniffer extension. Education is key—understanding phishing signatures and staying updated on scam tactics can prevent devastating losses. As crypto adoption grows, so do the risks, making awareness and proactive measures essential for every investor.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.