Another whale phishing incident has surged to the top of the on-chain hot search. This time, the protagonist is not the retail investor, but a true large holder—$50 million worth of Decentralized USD assets was directly transferred in a meticulously designed social engineering attack.

However, this development is different. The victims did not remain silent; instead, they launched a "counter-offensive" against the attackers on-chain. According to on-chain data, the victims have tracked down the attackers' wallet addresses through mainstream DEX and multi-chain protocol layers, and have officially issued a stern "repayment notice":

Return 98% of assets within 48 hours, and the attacker can keep 1 million USDT as a so-called "white hat reward" to calm the incident. If cooperation is refused, a global law enforcement collaboration will be initiated—including on-chain evidence preservation, coordination with judicial institutions, cross-chain asset freezing, and a series of preventive measures.

Behind this event lies a reflection of the deep changes happening in the cryptocurrency world. On one hand, while decentralized assets have escaped the control of central institutions, every transaction is permanently recorded on-chain, and any large abnormal flows cannot escape the eyes of professional on-chain analysis teams; on the other hand, with global law enforcement agencies gaining a deeper understanding of blockchain, an increasing number of international pursuit cases indicate that crypto assets are no longer a "lawless land."

The current question has become: will the attacker actively refund under pressure, or choose to continue resisting? This outcome may serve as a reference example for similar cases in the future, and also sound an alarm for all participants – in the open and transparent on-chain world, any large-scale illegal operations could face global tracking and accountability.

This event is also worth paying attention to for USDD holders and the entire stablecoin ecosystem. It involves not only the security of a single asset but also the level of improvement in the emergency mechanisms of decentralized stablecoins in protecting against hackers and responding to emergencies.