US Charges Six in Madagascar NFT Wallet-Draining Scheme

The detail that stands out is the unlimited USDT approval mechanism, a design flaw in token permissions rather than a sophisticated exploit, which makes this case a useful stress test of how routine wallet hygiene failures aggregate into material losses. The relatively modest total, spread across many wallets, suggests a volume-based playbook that may be replicated elsewhere. Whether US charges against operators tied to a specific jurisdiction deter similar approval-abuse schemes, or simply push them to less traceable rails, is the open question worth watching.