Having money does not mean your wallet is safe.
Recently, a whale address starting with TLBL was attacked again, with two wallets emptied in a short time, resulting in a loss of about $25 million.
What’s more heartbreaking is that this is not the first time.
As early as 2023, this address suffered a loss of about $24 million due to on-chain phishing. Combined, the total loss has exceeded $50 million.
The same whale has faced significant thefts twice in a row, and the methods were different.
How did this $25 million disappear?
From the on-chain transfers, the attackers acted very quickly.
Assets such as WBTC, cbBTC, LDO, USDS, and CRV were gradually transferred out, quickly exchanged for DAI and ETH through DEX.
In simple terms:
Wallet was taken over → Assets quickly transferred out → Exchanged for more liquid assets → Entered subsequent fund circulation.
The outside world generally suspects that this incident is related to private key or mnemonic phrase leakage, but the specific entry point of the attack should be confirmed by the security team in subsequent disclosures.
What’s truly noteworthy is that it is completely different from the attack in 2023.
Two thefts reveal two types of risks
2023: Phishing signature.
At that time, attackers induced wallets to sign permits/approvals through malicious websites and other means.
In this scenario, hackers don’t even need to obtain your private key.
If you click "Confirm," you may be granting asset transfer permissions away.
This time: Suspected direct loss of wallet control.
If it is ultimately confirmed that there was leakage of the private key or mnemonic phrase, the nature is completely different.
The former is: "You gave others permission to use your assets."
The latter is: "Others directly got the keys to your house."
That’s why it’s possible for multiple assets to be emptied almost simultaneously.
For ordinary people, remember three key things
First, do not store large assets in a single wallet.
For hundreds of thousands, millions, or even larger amounts, you should consider multi-signature, MPC, and other solutions.
Do not put all your eggs in one address.
Second, do not expose your mnemonic phrase to the internet.
Screenshots, cloud backups, chat software, notes—avoid them as much as possible.
For truly large assets, physical isolation is always more reliable than “I have many security software on my computer.”
Third, don’t habitually sign blindly.
Clicking "Approve," "Permit," or "Sign" without caution is the starting point of many on-chain theft incidents.
Especially with unfamiliar DApps, airdrops, NFT mints, or so-called "claim rewards," clarify before signing: What exactly are you authorizing? Additionally, regularly check historical authorizations in the wallet and revoke unnecessary ones in a timely manner.
What’s most concerning about this whale is not just that $25 million is gone again.
But rather that a wallet that had already lost $24 million faced significant attacks again years later.
The biggest characteristic of on-chain assets is: you have absolute control, which also means that if something goes wrong, there may be no one to cover for you.
For ordinary people, it’s likely that you don’t have $25 million to lose.
But one wrong signature or one leaked mnemonic phrase can also instantly wipe out years of savings.
The most expensive lesson in on-chain security is often the one you have already paid for.
💡 On-chain security is not a trivial matter; trading environments need to be carefully selected.
In exploring Web3, besides ensuring physical isolation of wallets and avoiding blind signing, choosing top-notch security risk control and highly liquid trading platforms is equally important, such as Binance.
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Risk warning: This content is for market observation sharing and does not constitute investment advice. The cryptocurrency market is highly volatile; please participate within your risk tolerance.
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