- Over $130,000 lost due to DMT token fraud.
- Critical importance of revoking unwanted token authorizations.
- Echoing past phishing attacks with ERC-20 approvals.
GoPlus Security has issued an urgent alert on November 20th, urging users to revoke permissions following a $130,000 heist via the DMT token airdrop scam by @dexmaxai.
The incident raises significant concerns about airdrop security, affecting numerous crypto holders and driving discussions on safeguarding digital assets in decentralized ecosystems.
Regulatory Landmarks Loom Amidst Escalating Smart Contract Breaches
Industry leaders, such as GoPlus Security, reaffirm the risks associated with transactional approvals from unfamiliar projects. “There’s no such thing as free money — don’t trust projects that claim you can easily earn just by participating. Always verify token contract permissions and use on-chain tools to limit granted approvals.” — GoPlus Security, Security Firm.
Coincu’s research suggests that the frequency of smart contract breaches may push regulatory bodies to develop stricter oversight on token approvals and wallet security protocols. This potential tightening of regulations could reshape user interactions with decentralized platforms.
Historical Context, Price Data, and Expert Analysis
Did you know? Past airdrop scams have resulted in over $45 million lost due to phishing and social engineering, indicating the significant impact these cyber threats pose.
Ethereum (ETH) is valued at $3,001.51, impacted by the latest security breach involving fraudulent token airdrops. With a market cap of $362.27 billion, ETH’s market dominance stands at 11.61%. Recent price movements show a 24-hour decline of 2.27%, a 14.03% dip over the past week, and a 22.43% decrease over the last 30 days (CoinMarketCap, November 20, 2025).
Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 09:48 UTC on November 20, 2025. Source: CoinMarketCapCoincu’s research suggests that the frequency of smart contract breaches may push regulatory bodies to develop stricter oversight on token approvals and wallet security protocols. This potential tightening of regulations could reshape user interactions with decentralized platforms.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/scam-alert/goplus-security-alert-dexmax-scam/
