A crypto user was victimized by a malicious actor who siphoned off over $900,000 from their digital wallet. This exploit was made possible through a previously granted token approval that had been inactive for over a year, according to blockchain security specialists at Scam Sniffer.
Scam Sniffer detailed the incident in
a post on X, dated August 2nd,
indicating the fraudulent activity
stemmed from an authorization dating back to April 30, 2024.
The wallet holder had inadvertently provided access to a third-party wallet, likely via a deceptive website or fraudulent token distribution. This approval gave the scammer ongoing authorization to transfer assets out of the wallet whenever desired, bypassing the need for subsequent approvals.
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The affected wallet remained relatively inactive for over a year, offering no immediate incentive for exploitation. However, on July 2, 2025, the victim
deposited $762,397 worth of USDC
from a MetaMask wallet. Shortly after,
an additional $146,154 was transferred
from a Kraken
$244.08M
wallet.
On August 2, 2025, at 04:57 AM UTC, the attacker
executed a single transaction to empty the entire wallet.
The misappropriated assets, amounting to
$908,551 in USDC
Scam Sniffer highlighted that the victim
had initially granted the token approval 458 days prior to the unauthorized transfer.
The cybersecurity firm advised cryptocurrency users to routinely audit and revoke token approvals that are no longer necessary. “Your wallet security matters,” they emphasized.
In related news, cybersecurity experts at Darktrace recently issued a warning regarding scammers utilizing fictitious startup companies to pilfer cryptocurrency from unsuspecting individuals. For a comprehensive overview of the report,
read the full story.
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