Earlier this week, crypto whale Kuan Sun shared his detailed experience of being targeted by a sophisticated phishing attack on his X account.
This story serves as a stark warning to all investors, as he lost and then recovered $13.5 million. As the digital asset ecosystem expands, so does the risk of hacking. How can investors prevent massive losses?
A Seemingly Harmless Meeting That Became a Nightmare
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A phishing attack on Tuesday robbed Kuan Sun, a user of the decentralized lending platform Venus Protocol, of his cryptocurrency. However, thanks to the swift response and cooperation of the Venus Protocol team, he was able to recover the stolen funds.
The elaborate attack began in April 2025 at the Hong Kong Wanxiang Conference. There, a mutual friend introduced Sun to someone who claimed to be a representative for Stack’s Asia Business Development. This kind of networking is common in the crypto space, and they added each other on Telegram.
On August 29, the so-called “BD” requested a simple Zoom meeting. Sun joined late and noticed that there was no sound in the room.
A pop-up message on his webpage read, “Your microphone needs an update.” Confused, Sun clicked the upgrade button—a fatal mistake that set the trap.
Sun later realized the hackers were not acting on the fly. He said the highly customized attack had been in motion since Monday, targeting him specifically.
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After the “update,” he started seeing strange messages on his computer. The Chrome browser would close abnormally, and a “Restore tabs?” message would pop up.
Suspecting nothing, Sun continued his routine and accessed Venus Protocol through his browser. There, he procee
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Author: Paul Kim
