Ethereum holder just lost all of his ETH to a phishing website after holding it for whopping 5 years. At time of writing of this article, the Ethereum amount is about $1.04 million. In the past five years, he did not interact with anything, not even decentralized exchanges like Uniswap.
He did not buy NFTs, and never did any token farming.
Looks like he was feeling a bit adventurous and wanted to try something new for the first time. He got rugged by ClaimReward function.
If you are wondering this can happen to someone using a hardware cryptocurrency wallet like Ledger or Trezor as well since they cannot stop you from using or interacting with a malicious website or sneaky smart contract.
In other words, if you cannot your cryptocurrency wallet to a fake website, you can loose all of your money. You know what they say “if something sounds too good to be true, it must be a scam.”
While self custody is important, it is important to keep one away from hazardous websites out there. There are criminals everywhere, especially in the world of cryptocurrency.