He Initiated a Test Transaction First—It Failed to Protect His $50 Million

Incident Overview: A cryptocurrency investor lost $50 million in USDT due to an address poisoning attack, where they mistakenly sent funds to a fraudulent address that mimicked the correct one.

Attack Execution: The attacker quickly converted the stolen funds into DAI and then into ETH, using Tornado Cash to obscure the transaction trail, highlighting the rapid and sophisticated tactics employed in cryptocurrency theft.

Recent Trends in Cryptocurrency Theft: Cryptocurrency theft has surged, with $3.41 billion stolen in 2025, surpassing the previous year's total, and personal wallet compromises have increased significantly, accounting for 44% of total stolen value.

Statistics on Personal Wallet Attacks: Despite the rise in personal wallet attacks, the total amount stolen from individual wallets decreased to $713 million in 2024, down from $1.5 billion the previous year, indicating a shift in the nature of cryptocurrency theft.