Crypto User Loses $908K in Silent Wallet-Draining Scam – 16 Months in the Making

In an unbelievable turn of events, a crypto user has lost \$908,551 in USDC — and the most chilling part? The scam was set in motion 16 months ago, without the victim ever knowing it.

Back in April 2024, the victim unknowingly approved a shady ERC-20 token, likely from a suspicious airdrop or an alluring website. At the time, nothing seemed out of the ordinary, so they probably forgot about it entirely. But then, 458 days later, on August 2, 2025, the scammer pounced and drained the entire wallet.

What makes this even more terrifying is the way the scam was carefully timed. In July 2025, the victim moved \$762K into their MetaMask wallet, and about an hour later, transferred another \$146K to a Kraken-linked wallet. Once those funds were centralized, the attacker struck. The wallet used to steal the funds was labeled pink-drainer.eth (0x67E5Ae), and Scam Sniffer confirmed it was a delayed phishing attack — a sneaky trap laid months in advance, just waiting for the right moment to strike.

This wasn't an isolated incident either. In July 2025 alone, over \$142 million was stolen across 17 separate attacks. In many cases, the victims had approved the malicious token long before they even noticed anything was wrong.

The message here couldn’t be clearer: **Revoke your old token approvals regularly.** Don't let gas fees stop you — your entire wallet is worth far more than that little fee. Use tools like Etherscan’s token approval checker to stay on top of it. And above all, **always use WalletConnect** when interacting with decentralized applications (dApps).

This wasn’t just a hack; it was a calculated, long-term trap. This could happen to anyone. So, stay vigilant and double-check your approvals — or one day, your balance could vanish in an instant.

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