Crypto Drainers Use Phishing Attacks for Scam-as-a-Service

December 30, 2023.

Cybersecurity researchers are sounding the alarm on a surge in phishing attacks targeting various blockchain networks, including Ethereum, Binance Smart Chain, Polygon, and Avalanche. A prominent threat is the Angel Drainer phishing group, offering a “scam-as-a-service” where collaborators pay a percentage, typically 20% or 30%, for access to wallet-draining scripts and other tools. Another service, Inferno Drainer, recently shut down after helping scammers steal over $70 million in crypto. These attacks often involve a crypto-draining kit deployed through airdrops or phishing scams, exploiting users who connect wallets to counterfeit websites. To counter these threats, users are advised to use hardware wallets, validate smart contract legitimacy, and monitor wallet allowances for suspicious activity.

Image courtesy The Hacker News

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