In 2023, crypto drainers stole $295 million from 324,000 victims. Wallet drainers are cryptocurrency malware.
Wallet drainers are cryptocurrency malware. The ransomware stole USD 295 million in cryptocurrency from 324,000 victims in 2023, according to a new investigation. Scam Sniffer reported that fraudsters stole $7 million on March 11, 2023. Mostly due to USDC rating swings, victims confronted phishing websites impersonating circles.
The researchers reported, “Phishing activities have steadily increased each month over the past year, with scammers using more sophisticated tactics to bypass security.”
The Monkey Drainer, a phishing gang, declared its closure on March 2, 2023. But before closing, the group advised clients to use another unlawful business.
Before closure, the Monkey Drainer stole USD 16 million in digital assets, according to the investigation.
Also in 2023, Inferno Drainer closed after stealing USD 81 million in digital assets.
The investigation examined how phishing sites get traffic.
Crypto criminals hack a project’s Discord and X accounts and upload phishing URLs.
Investigators also found that scammers published sponsored Google Search and X adverts violating Google and X’s advertising constraints.
Conclusion
In 2023, crypto drainers stole USD 295 million from 324,000 victims. Due to USDC rating changes, cybercriminals stole around USD 7 million on March 11. In March 2023, phishing group Monkey Drainer discontinued operations. Other unlawful services recommended include Inferno Drainer, which stole USD 81 million. Crypto thieves manipulate traffic by compromising project accounts and spreading phishing URLs.
