In a sophisticated crypto scam demonstrating extraordinary patience, a victim lost $908,551 nearly 15 months after initially falling for a phishing trap. The attacker strategically waited until two substantial deposits entered the compromised wallet before executing the theft.

The Long Game of Crypto Phishing

Blockchain security firm Scam Sniffer revealed the attack originated from an ERC-20 approval transaction signed on April 30, 2024. The malicious authorization gave the scammer's wallet (0x67E5Ae) persistent access to the victim's funds while remaining dormant for 458 days.

——This represents a disturbing evolution in phishing tactics—— where attackers monitor compromised wallets for extended periods, striking only when significant funds appear.

The Perfect Storm of Deposits

The victim's wallet saw minimal activity until July 2, 2025, when two transactions triggered the attack:

• 【$762,397】 transferred from a MetaMask wallet at 8:41pm UTC

• 【$146,154】 deposited from Kraken exchange minutes later

Security analysts note the scammer likely used automated monitoring tools, waiting precisely one month after these deposits to ensure no additional funds would arrive before draining the entire 【$908,551】 USDC balance on August 2.

Prevention Tools Often Ignored

Ethereum users can audit and revoke token approvals through Etherscan's tools, yet many neglect this critical security practice. Scam Sniffer emphasized: "Your wallet security matters — regularly review old approvals."

The pink-drainer.eth wallet associated with this attack has been linked to multiple high-value thefts, suggesting professional phishing operations rather than opportunistic scams.

Alarming Industry Trend

July 2025 saw crypto criminals steal over 【$142 million】 across 17 incidents. This delayed approval attack highlights how scammers increasingly combine technical sophistication with psychological tactics — exploiting human forgetfulness about old wallet permissions.

Security experts recommend setting calendar reminders to review token approvals quarterly and using wallet features that automatically revoke permissions after set periods. As crypto adoption grows, such precautions become essential rather than optional.