An unknown cryptocurrency owner lost over $340,000 in the stablecoin USD0 after agreeing to sign a transaction with a phishing smart contract. According to analysts, this incident became one of the largest losses caused by similar schemes in July 2025.
This is reported by Finway
Details of the Incident and Community Reaction
After signing the malicious transaction, a significant amount was transferred to the hacker’s account, and the user immediately lost access to their funds. The situation sparked lively discussions in the cryptocurrency community, particularly regarding the legal implications of such losses and the responsibilities of asset owners.
“If they signed it, it means they agreed. This is the money of the contract owner. […] It doesn’t matter whether I understood it at the time, I signed it.”
Many users believe that signing a transaction effectively means agreeing to its terms, even if the victim was not aware of all the risks. The debate centers around whether asset owners can be protected from such fraudulent schemes within the legal framework.
Assets in the Hacker’s Wallet and Previous Similar Cases
According to DeBank, the hacker’s wallet currently holds 94.7 ETH, equivalent to nearly $300,000. This indicates that part of the funds has not yet been withdrawn or converted into other assets, and there is a possibility of further tracking the movement of the stolen cryptocurrencies.
Previously, experts from Cyvers reported a similar case where a user lost about $2.6 million in USDT due to the “spam transaction” (address poisoning) scheme. This underscores the need to raise user awareness regarding the security of cryptocurrency transactions and the risks associated with signing unfamiliar transactions.