Scammer Steals $20 Million in USDT Stablecoin Using Zero Transfer Phishing Attack

08/01 11:51

A scammer used a zero transfer phishing attack to steal $20 million worth of USDT stablecoin on August 1, before being blacklisted by Tether. The scammer tricked the victim into sending 20 million real USDT to a phishing address, which resembled a known address. Zero transfer phishing scams have become increasingly common in the crypto ecosystem, resulting in over $40 million in losses to such attacks. Tether froze the victim's wallet immediately, prompting speculation about the identity of the scammer.

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