🔍 A crypto investor lost $340,000 due to an old wallet approval — a lesson for all token holders
CertiK specialists recorded an incident that shows how important it is to monitor permissions in crypto wallets. A hacker managed to withdraw around $340,000 by exploiting access to USDC that the wallet owner had granted on October 2, 2020. The approval was signed on a phishing site, and the wallet remained untouched ever since — the attacker simply waited until significant funds accumulated.
When large funds appeared in the account, the attacker executed a single transaction and withdrew all available USDC. This case demonstrates that old approvals we once gave to various platforms and applications can pose a real threat even years later.
CertiK experts remind users to regularly check the list of permissions in their wallets, remove unnecessary accesses, and never sign transactions on suspicious websites. This is a simple but vital security measure that helps prevent major financial losses.
Even if you haven’t used an app or service for a long time, old approvals can be exploited against you. Regular wallet audits are like checking the locks on your doors: simple, yet they can save millions.
The takeaway is clear: in the world of crypto, every signature matters. Checking permissions and timely revocation of unnecessary accesses is key to safeguarding your funds.
A crypto wallet is your personal cash register, safe, and gateway to the Web3 world — but only if you know how to use it. It provides freedom but requires responsibility. Not ready for it? Better stick with a bank.
By the way, here you can purchase legendary hardware wallets for beginners with all the basic functions.
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