A recent phishing attack on Ethereum has resulted in a cryptocurrency investor losing over $180,000 in USD Coin (USDC) and ANDY, a meme coin inspired by Pepe.

The attack occurred on April 23 over the span of nearly one hour, from 05:39 to 06:29 UTC, according to data from Etherscan. Perpetrators executed a multi-call phishing attack, combining multiple function calls into a single transaction to carry out the malicious action.

The victim's address saw outflows to several wallets belonging to the hackers, with some of these wallets already identified as phishing wallets by Etherscan. In total, the victim lost over 1.6 billion ANDY tokens, valued at $162,400, and 17,913 USDC.

Following the attack, the victim's account was emptied, with only a balance of $32 worth of Ethereum (ETH) and Arbitrum (ARB) remaining. The attackers swiftly moved the stolen assets, swapping ANDY tokens for WETH on Uniswap and transferring the WETH to a new address.

This type of attack typically exploits interactions with smart contracts, with attackers creating contracts that appear to perform standard DeFi operations while embedding calls that facilitate the transfer of the user's tokens to the attacker.

This incident adds to a growing trend of phishing attacks in the crypto space. Last month, a similar attack resulted in the loss of $674,000 in USDC, with the stolen assets immediately liquidated via the Ox protocol. Reports indicate that over 57,000 crypto users lost $46 million to phishing attacks in February alone, highlighting the need for heightened awareness and security measures among cryptocurrency investors.