DeFi's 'Permit' Feature Hijacked in $6M Phishing Laundering Scheme

A phishing attack executed on September 18, 2025, resulted in the theft of $6.28 million in staked Ethereum (stETH) and Aave-wrapped Bitcoin (aEthWBTC) tokens, with the stolen assets rapidly laundered across multiple blockchain networks. The incident, first reported by blockchain security firm Scam Sniffer and detailed on X by @realScamSniffer, highlights the growing sophistication of cybercriminals exploiting vulnerabilities in decentralized finance (DeFi) ecosystemsPhishing Heist Steals $6M in stETH & aEthWBTC, Laundered Fast^[1]. The attacker, identified by the address 0x1623…9aC9, leveraged a Drainer Network to facilitate the laundering process, converting the stolen tokens into ETH and bridging them via the Bridgers protocol within hours of the theftPhishing Heist Steals $6M in stETH & aEthWBTC, Laundered Fast^[1]. Funds were subsequently distributed across Bitcoin and TRON accounts, including a Bitcoin address starting with bc1q and a TRON address TEuR8RPhishing Heist Steals $6M in stETH & aEthWBTC, Laundered Fast^[1].

The attack exploited a vulnerability in "Permit" signature mechanisms, a feature designed to streamline token transfers by allowing users to sign off-chain messages authorizing transactions without incurring gas fees. According to Yu Xian, founder of SlowMist, the victim unknowingly approved malicious permits through routine wallet pop-ups, enabling hackers to drain the account without triggering immediate red flagsCrypto whale loses $6M to sneaky phishing scheme targeting staked Ethereum^[2]. The lack of gas fees made the transaction appear benign, masking the transfer of $6.28 million until it was too lateCrypto whale loses $6M to sneaky phishing scheme targeting staked Ethereum^[2]. Scam Sniffer noted that the attacker combined Permit and TransferFrom functions to execute the theft, a method that bypasses traditional on-chain approval processes and obscures activity until funds are redirectedCrypto whale loses $6M to sneaky phishing scheme targeting staked Ethereum^[2].

The laundering operation demonstrated advanced multi-chain dispersion techniques. Approximately 753 stETH and 123 ETH were bridged to Ethereum, while 71 ETH were moved to the NEAR protocol. A Drainer Network fee wallet transferred 312.8 ETH to an obscured address, further fragmenting the trailPhishing Heist Steals $6M in stETH & aEthWBTC, Laundered Fast^[1]. The rapidity of the transfers—completed within hours—underscores the efficiency of modern laundering strategies, which obscure the origins of stolen assets across disparate blockchain networks. This case mirrors broader trends in crypto crime: Scam Sniffer reported $12.17 million in phishing losses in August 2025, a 72% increase from July, with three large accounts accounting for nearly half of the total, including a $3.08 million single exploitCrypto whale loses $6M to sneaky phishing scheme targeting staked Ethereum^[2].

Security experts have attributed the surge in phishing attacks to the proliferation of EIP-7702 batch-signature scams and direct transfers to malicious contractsCrypto whale loses $6M to sneaky phishing scheme targeting staked Ethereum^[2]. The incident serves as a cautionary tale for crypto users, emphasizing the risks of approving unverified permits and interacting with untrusted smart contracts. Best practices include using hardware wallets, enabling multi-factor authentication, and scrutinizing wallet activity for unusual permissionsPhishing Heist Steals $6M in stETH & aEthWBTC, Laundered Fast^[1]. Additionally, developers are urged to conduct rigorous smart contract audits and implement layered security measures to mitigate vulnerabilities$6.2M Gone Overnight: New Phishing Attack Shakes Crypto …^[3].

The attack also reflects the broader challenges facing DeFi protocols, which lack centralized oversight to compensate victims post-theft. Unlike traditional financial systems, many DeFi platforms cannot reverse transactions or recover lost funds, leaving users vulnerable to irreversible losses$6.2M Gone Overnight: New Phishing Attack Shakes Crypto …^[3]. The incident follows a $2.59 million exploit of Nemo Protocol in September 2025, further highlighting systemic risks in decentralized systems$6.2M Gone Overnight: New Phishing Attack Shakes Crypto …^[3]. As phishing schemes evolve, the industry must balance innovation with robust security frameworks to rebuild trust and prevent cascading confidence erosion.

Phishing Heist Steals $6M in stETH & aEthWBTC, Laundered Fast^[1]: LiveBitcoinNews, [https://www.livebitcoinnews.com/phishing-heist-steals-6m-in-steth-aethwbtc-laundered-fast/](https://www.livebitcoinnews.com/phishing-heist-steals-6m-in-steth-aethwbtc-laundered-fast/)

Crypto whale loses $6M to sneaky phishing scheme targeting staked Ethereum^[2]: CryptoSlate, [https://cryptorank.io/news/feed/7f609-crypto-whale-loses-6m-to-sneaky-phishing-scheme-targeting-staked-ethereum](https://cryptorank.io/news/feed/7f609-crypto-whale-loses-6m-to-sneaky-phishing-scheme-targeting-staked-ethereum)

$6.2M Gone Overnight: New Phishing Attack Shakes Crypto …^[3]: HokaNews, [https://www.hokanews.com/2025/09/62m-gone-overnight-new-phishing-attack.html](https://www.hokanews.com/2025/09/62m-gone-overnight-new-phishing-attack.html)