Trader | Crypto

Onchain scammers netted more than $14 billion last year, and approval phishing remains a primary attack vector. A crypto user lost nearly $1 million on Wednesday after signing a phishing token approval on Ethereum, according to onchain data. It comes as the industry recorded $366 million in phishing losses in the first half of the year.  A Scam Sniffer alert on Thursday revealed a victim lost 999,999 USDt (USDT) to an Ethereum phishing token approval scam. Scammers first tried draining a rounded $1 million via multicalls but failed due to insufficient funds, then succeeded seconds later by pulling the exact remaining balance in follow-up transfers. “The script recalculated and pulled the exact remaining balance,” Scam Sniffer said. Read more

One crypto trader noted the $2 million loss could have been prevented had the victim read the transaction route before signing the transaction. A trader who swapped $2.01 million worth of Ether on a decentralized exchange has been left with just $14,500 worth of tokens after a router directed the order through a low-liquidity pool, allowing an Ethereum block builder to profit massively from a same-block arbitrage trade. The trader swapped 1,126.44 of Ether (ETH) but only received 5,776 Lighter (LIT) tokens, in a “textbook case of same-block backrun extraction,” according to GoPlus Security. “This was a real, highly imbalanced backrunner arbitrage, not a classic sandwich attack,” GoPlus Security said. Titan Builder was the biggest beneficiary, walking away with $1.8 million from the transaction, which took place on Monday at 1:59 am UTC. Read more

XRP trades below key macro support, but analysts say reclaiming it could trigger one of the biggest bear traps. XRP (XRP) dropped to $1.25 on Tuesday after a market-wide sell-off, erasing all the gains made since early February.  Key takeaways: Data from TradingView shows that the XRP price opened June at $0.33, just below the 50-month exponential moving average (EMA). Read more

A memecoin trader turned a $2,480 bet into more than $12 million, creating one of the sector’s rare breakout winners at a time when the broader memecoin market is collapsing. On-chain analyst Ember CN reported June 1 that the trader bought Binance Life, also known as BianRensheng, within half an hour of its deployment and […] The post Trader turns $2,480 into $12 million after holding Binance memecoin for 8 months appeared first on CryptoSlate.

Hyperliquid data showed a 145 million Fartcoin position unwound across wallets, with the platform redistributing about $849,000 in gains to opposing traders. A trader lost about $3 million after building a large leveraged Fartcoin position on Hyperliquid that unraveled in thin liquidity, triggering the platform’s auto-deleveraging (ADL) mechanism. Hyperliquid data flagged by Lookonchain shows that the trader accumulated about 145 million tokens across multiple wallets before being liquidated. The liquidation redistributed gains to opposing traders, with at least two wallets seeing around $849,000 through ADL.  PeckShield said the unwind produced about $3 million in accounting losses and left Hyperliquid’s HLP vault down roughly $1.5 million over 24 hours, though Hyperliquid had not publicly confirmed those figures by publication. Read more

Bitcoin price analysis stayed bearish on the outlook for BTC, predicting new macro lows in a repeat of the 2022 bear market. Bitcoin (BTC) gained up to 3% Sunday, but some traders refused to believe that the BTC price crash was over. Key points: Bitcoin price comparisons warn that new macro lows are due if the 2022 bear market continues to repeat. Read more