Multiple Phishing Attacks Drain Millions on Ethereum Despite Early Detection
Multiple Phishing Attacks Drain Millions on Ethereum Despite Early Detection
🎣 4 Hours to Stop $300K
A series of costly phishing attacks hit Ethereum Mainnet in July-August 2025:
- $300K lost despite Forta Firewall's early warning (4-hour gap between detection and victim approval)
- $3.1M phishing attack occurred with 1.5-hour warning window
- $730K stolen from SuperRare due to access control vulnerability
- 1,069 malicious contracts identified, stealing 181.5 ETH + tokens worth $868K
Forta Firewall detected all threats at contract deployment, but victims proceeded with transactions on unprotected chains. These incidents highlight the critical need for active security measures beyond just threat detection.
Key takeaway: Early warning systems require protective action to prevent losses.
$3.1M lost to a phishing scam 🚨 Forta Firewall detected the malicious contract at creation time—5:04 PM UTC The victim approved it at 6:28 PM UTC—too late. This could have been prevented 🫸
Another $300K lost to a phishing scam on Ethereum Mainnet 💸 Forta Firewall flagged the malicious contract at deployment, Jul 14, 2025 10:44 AM UTC Victim approved the phishing tx at 2:33 PM UTC, nearly 4 hours later On chains protected by Forta Firewall, this would’ve been
Forta detected 1,069 malicious contracts on Mainnet, draining 181.5 ETH and 178 different tokens via phishing. In total, over $868K was stolen. ⚠️ This is what's hiding in plain sight onchain. This is why onchain security matters.
$730,000 stolen from @SuperRare on Ethereum—but Forta Firewall flagged the exploit before it hit 🚨 A broken access check let the attacker claim RARE tokens they didn’t own 🥷 It didn’t have to happen 😿
Forta Firewall Enhances Real-Time Chain Monitoring
Forta has launched enhanced features for their blockchain security monitoring system: - **Real-time Visibility**: New monitoring capabilities provide comprehensive chain oversight with zero blind spots - **Dynamic Freeze Module**: Enables blocking malicious actors during offchain threats without halting the chain - **Multi-Monitoring System**: Delivers targeted alerts across different monitoring points The Forta Firewall update strengthens blockchain security by offering immediate threat detection and response capabilities. The system now provides enhanced visibility into chain activities, helping networks identify and address potential issues as they emerge. [Learn more about Forta Firewall](https://www.forta.org/blog/real-time-monitoring-for-chains-with-forta-firewall)
OFAC Compliance Becomes Critical Infrastructure for Blockchain Rollups
**Regulatory compliance** is becoming a core requirement for blockchain networks, particularly regarding OFAC-sanctioned wallet transactions. Key points: - Transactions with sanctioned wallets pose significant regulatory risks - Compliance screening is now essential infrastructure for rollups - Forta Firewall offers a solution for OFAC screening implementation *Security and compliance* are emerging as crucial growth enablers in the on-chain economy. Forta Firewall provides tools to help rollups and protocols prevent potential security breaches and maintain regulatory compliance. Learn more: [Forta's Guide to OFAC Screening](https://www.forta.org/blog/why-ofac-screening-matters-in-crypto-and-how-forta-firewall-helps)
Forta Detects Major Phishing Operation on Ethereum Mainnet
Forta's security monitoring revealed a significant phishing campaign on Ethereum Mainnet: - 1,069 malicious contracts identified - 181.5 ETH and 178 different tokens stolen - Total losses exceed $868K A detailed case study shows how one victim lost $59,000 in WBTC through a single malicious approval. The attack happened gradually: - Initial phishing transaction granted token approvals - Multiple small withdrawals to avoid detection - Victim remained unaware throughout the process **Key Security Tips:** - Regularly revoke unused approvals - Monitor wallet activity frequently - Verify all dApp interactions thoroughly *Remember: Most crypto thefts occur silently, one transaction at a time.*
GemPad Hit by $2M Cross-Chain Reentrancy Attack
A significant security breach has affected GemPad across multiple blockchains - Ethereum, BSC, and Base - resulting in a $2M loss through a reentrancy attack. The incident was detected by Forta Firewall's security systems. This attack follows a pattern of recent crypto security incidents, including: - Penpie's $27M reentrancy exploit - Onyx Protocol's $4.2M market manipulation - Bedrock DeFi's $1.7M smart contract vulnerability These incidents highlight the growing importance of preventative security measures in DeFi protocols. **Learn More**: Visit Forta's blog to understand how these attacks can be prevented.