BEARISH 45 The Defiant 1H ago · 1 min read 1 read

US Charges Six in Alleged Madagascar NFT Wallet-Draining Scheme

AI summary

US prosecutors charged six people over an alleged NFT wallet-draining scheme linked to Madagascar, according to an FBI affidavit. The filing estimates at least $516,695 in losses across 74 victim-linked wallets and describes unlimited USDT spending approvals that let attackers pull funds. Traders should note the case highlights approval-based drainer risk in NFT and stablecoin activity, a recurring security concern for on-chain users.

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