Cryptocurrency has suffered yet another major blow recently when RocketPool, an Ethereum (ETH) staking service, allegedly suffered a multimillion dollar phishing attack. According to Lookonchain, approximately 85,900 RPL tokens were withdrawn from an address owned by the founder of the POAP protocol, Patricio Worthalter, and were then exchanged for ETH, equaling an estimated $3.8 million.

Thanks to the alert of PeckShieldAlert, it was discovered that the stolen funds were subsequently transferred to numerous "Fake_Phishing" address and 17 ETH were sent to Binance. Following the theft, the price of RocketPool token (RPL) dropped significantly, losing over 13% of its value at one point.

Despite the immense sell-off, RPL was able to regain some of the lost ground and continue trading in the $43 per token range. Furthermore, at the peak of the drop, the trading volume of RPL on Binance shot up to 49,800 within a quarter of an hour, which is almost equal to the daily trading rate of the token.

So far, the founder and POAP have stayed silent on this issue and it is unclear at the moment what the aftermath might be. The theft, however, brings to light how vulnerable digital assets, even ones on supposed secure networks, are to large-scale thefts. This will, in turn, reignite the debate about the security and safety of investments placed in the crypto markets.



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