A GMX investor lost nearly $3.5 million in assets after being exposed to phishing scams.
The hacking and phishing scams of the crypto industry are unstoppable. Last year, nearly $3 billion in assets evaporated in light of bad actors. Actors who take advantage of the vulnerabilities of decentralized network structures leave thousands of investors a victim. Finally, an anonymous investor lost $3.4 million in GMX tokens after being exposed to phishing scams. The records confirmed that the investor lost this asset through his own fault.
GMX Investor Stole $3.5 Million GMX Token
An anonymous DeFi user lost $3.5 million in GMX tokens as a result of a phishing attack.
The anonymous user with an investment in GMX, the native token of the decentralized crypto exchange and trading protocol GMX, was possibly tricked into consenting to a malicious transaction. GMX tokens were stolen from the wallet of the user who provided the required signature.
According to the records also revealed by Lookonchain, a large GMX investor’s wallet was emptied. The phishing scammer converted 82,519 stolen GMX into Ethereum (ETH). Then he tried to erase his trace by moving these ETHs to other protocols.
An admin in GMX’s telegram group confirmed this phishing incident.