Crypto whale loses $25.6M in major phishing attack

An unidentified cryptocurrency whale lost $25.6 million in a phishing attack on August 12. The attacker drained various assets, including WBTC, cbBTC, LDO, USDS, and CRV, before swapping them for approximately 20 million DAI and 3,000 ETH. This marks the second major breach for this specific wallet; in September 2023, the same address was exploited for $24.23 million via malicious token approvals, though the attacker returned 90% of those funds.

Beyond digital phishing, there is a rising trend of physical “wrench attacks,” involving assaults and kidnappings to steal crypto. In France, these risks have intensified following the compromise of tax agency records. While the total value of crypto linked to violent attacks in 2026 has reached $107 million, the success rate of these physical attempts has declined to 26%, according to Chainalysis.