Crypto Analyzer

Happy New Year 2024 — PVM Lost His Crypto | by PVMihalache | The Crypto Kiosk | Jan, 2024

“2024 didn’t start as good as I wanted! Just dropping some tl;dr now and will write a full post-mortem article whenever I will feel better!”

PVM got “hacked” not once but twice, and lost his big bag of crypto! Got drained of $POOL, $OP, $ACX and all my USDC! First time it happened after I completed three ACX to USDC swaps on Velodrome, with the third one failing. Didn’t consider that suspicious, but a few hours later, I saw that all the remaining $ACX and $OP got drained! Boom… $8,000 worth of crypto gone! PVM opened a ticket on Velodrome, which got answered not that fast. It took them two weeks to tell PVM it is “less likely to be after the interaction with Velo. PVM wasn’t happy about the answer, considering that Metamask support said it was very likely that the drainer was approved in that 3rd swap that failed. Velodrome support and answers were disappointing, and PVM wanted to withdraw the ACX — ETH LP PVM had in there plus any remaining crypto. PVM claimed the earned $VELO, then silly enough decided to lock it for one year and forgot about it! PVM done a handful of transactions and got drained again! Boom… all my USDC gone along with the $POOL. Nearly $19,000 of stable and 3000 $POOL tokens lost on the 2nd of January! Happy new year! Time to touch some grass and keep telling myself that losing $30,000 is not that bad! Life goes on! Residual Income: PVMihalache Amazon Books Play2Earn: Upland / Splinterlands / Doctor Who Worlds Apart Get Plutus Card — 3% cashback on everything + Perks CEXs and DEXs: OKX / Biswap / Binance / / The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN Publishing bundle: Publish0x, Hive/Leo, readcash, LBRY & Presearch”

In his recent post, PVMihalache shares a disheartening update on the loss of his cryptocurrency, reflecting on the challenging start to the new year. PVM recounts the unfortunate events that led to the disappearance of significant amounts of various cryptocurrencies, including $POOL, $OP, $ACX, and USDC.

The first instance occurred after completing three ACX to USDC swaps on Velodrome, with the third swap failing. Despite not initially considering it suspicious, PVM later discovered that all remaining $ACX and $OP had been drained, resulting in a loss of $8,000 worth of crypto.

Following this ordeal, PVM reached out to Velodrome for support, but the response time and subsequent explanation left him dissatisfied. Metamask support suggested that the drainer was likely approved during the failed swap, adding to PVM’s frustration with Velodrome.

In a subsequent attempt to withdraw assets and crypto from Velodrome, PVM experienced another draining of his USDC and $POOL, resulting in the loss of nearly $19,000 and 3000 $POOL tokens on January 2nd.

Despite these setbacks, PVM maintains a resilient outlook and humorously remarks on the need to “touch some grass” and carry on despite the significant financial loss. PVM also shares various sources of residual income and investment opportunities, perhaps as a means to diversify and recover from the recent losses.

This unfortunate incident serves as a sobering reminder of the risks associated with cryptocurrency investments and the importance of staying vigilant and informed when engaging in the volatile world of digital assets.