This week, another multi-hundred-thousand-dollar crypto hack was linked to the growing tokenization trend of real-world assets and inadequate security procedures.
Threat intelligence group Arkham claims that in late January, hackers Inferno Drainer stole $900,000 worth of Chainlink (LINK) tokens from the hot wallet of a Swiss crypto investment fund.
The attackers reportedly used a phony crypto airdrop website to phish the victim’s private wallet keys.
They used the compromised “Alchemist63” account to obtain signature approvals, quickly emptying the wallet through two transactions.
Targeting LINK specifically, the transactions first took $400,940, then 12 seconds later, $456,400, as the victim unknowingly approved both of the fraudulent money transfers.
Subsequently, researchers connected the depleted wallet to PrismInvest, a fund based in Switzerland with years of Binance activity history.
But since the digit keys were now compromised, it’s possible that the stolen digital assets made its way past coin mixers and into Inferno’s permanent possession.