In a dramatic revelation, Lin Xiaohong, co-founder of Continue Capital, announced on the social media platform X that he became an unwitting headline due to a phishing attack that led to a staggering financial loss. Reports indicate that Lin's address, believed to be associated with Continue Fund, was specifically targeted in a well-orchestrated phishing scheme.
This incident resulted in the theft of a substantial amount of funds, exceeding $35 million. The phishing attack left a significant mark, as it was reported that Lin's address lost a total of 15,079 fwDETH tokens. These tokens, once stolen, were swiftly liquidated by the hacker. However, the subsequent liquidation encountered issues.
The rapid sell-off occurred under circumstances of insufficient liquidity in the market, causing the value of the hijacked assets to plummet significantly. Post-attack estimates suggest that the total value of the stolen assets diminished to around $5.5 million, reflecting a dramatic drop compared to their original worth.
This case underscores the ongoing vulnerabilities in the realm of digital finance, emphasizing the urgent need for enhanced security measures to protect against such deceptive practices..