A DeFi participant suffered a devastating $563K loss during fund withdrawal from major lending protocols Aave and Compound. The incident stemmed from a critical mistake: approving an unknown token that granted an attacker complete transfer authority over the user's aEthUSDT holdings. Once the malicious permission was granted, the attacker-controlled address moved swiftly to drain the assets before the victim could revoke the approval. This incident underscores a persistent vulnerability in DeFi workflows—permission management remains a major attack surface. Users interacting with liquidity protocols must exercise extreme caution when signing token approvals, especially for unfamiliar contracts. Always verify smart contract addresses before granting transfer permissions, and consider using allowance limits rather than unlimited approvals whenever possible. The speed at which attackers capitalize on these permissions makes prevention far more effective than attempting recovery.
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LiquidityOracle
· 2025-12-20 17:46
It's the approve again causing trouble; 560,000 dollars are gone, and this is on a major protocol... Fine, my only advice is this: when you see an unfamiliar contract, just assume it's trying to scam your money.
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HashBandit
· 2025-12-17 20:54
ngl this is why i stopped doing blind approvals back in my mining days... watching 563k evaporate from one careless signature? that's not even a loss, that's a crime scene. unlimited allowances are basically handing attackers the keys fr fr
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DegenWhisperer
· 2025-12-17 20:48
It's the approve's fault again... This guy lost 563k just like that, truly unbelievable. Sometimes I just can't understand why some people still blindly approve unlimited transactions for unknown contracts. Isn't that just jumping into a fire pit? Defense is always more effective than firefighting.
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TrustMeBro
· 2025-12-17 20:27
Another 560,000 yuan just gone, it hurts just thinking about it. Approving a stranger's token is really crazy...
A DeFi participant suffered a devastating $563K loss during fund withdrawal from major lending protocols Aave and Compound. The incident stemmed from a critical mistake: approving an unknown token that granted an attacker complete transfer authority over the user's aEthUSDT holdings. Once the malicious permission was granted, the attacker-controlled address moved swiftly to drain the assets before the victim could revoke the approval. This incident underscores a persistent vulnerability in DeFi workflows—permission management remains a major attack surface. Users interacting with liquidity protocols must exercise extreme caution when signing token approvals, especially for unfamiliar contracts. Always verify smart contract addresses before granting transfer permissions, and consider using allowance limits rather than unlimited approvals whenever possible. The speed at which attackers capitalize on these permissions makes prevention far more effective than attempting recovery.