A user on the BSC chain lost nearly $120,000 due to signing a malicious increaseAllowance transaction.

Techub News reports, according to Scam Sniffer monitoring, approximately 5 hours ago, a user on the BSC chain lost BUSD worth $118,785 due to signing a malicious increaseAllowance transaction. Analysts point out that while most users are already vigilant about permit signatures and approve calls, the increaseAllowance function also poses security risks and is easily overlooked simply because its name is less common.