The Demise Of Inferno Drainer: Accomplice In $70 Million Fraud Uncovered
The Fraud Scheme: Inferno Drainer is implicated in a cryptocurrency theft exceeding $70 million, targeting over 100,000 victims across various blockchains. The scam involved the use of malware-as-a-service, enabling malicious actors to siphon money from cryptocurrency wallets.
Operation Details: Inferno Drainer deployed a "malware-as-a-service" model, facilitating the creation of over 689 phishing websites since March 27th. These websites targeted popular cryptocurrency and NFT projects, demonstrating the extent and sophistication of the fraudulent operation.
Shutdown Announcement: The article reveals that Inferno Drainer announced its decision to shut down in a Telegram post on November 26. However, it mentioned that servers would continue running to allow users to transition to another platform.
Discovery and Investigation: The scam was brought to light by security enthusiast and anonymous Twitter user 0xSaiyanGod, who discovered it while perusing the fraud Sniffer Telegram channel. After reporting the scammer, an inquiry was launched, leading to the discovery of a significant drain transaction using a Permit2 exploit.
Financial Impact: Inferno Drainer charged between 20% and 30% of the total value of stolen assets as "drainer fees," accumulating as much as $20 million, according to blockchain security experts.
Victims and Projects Affected: Scam Sniffer's investigation revealed that over 4,888 victims lost nearly $6 million in NFTs and cryptocurrencies across various chains, including Ethereum, Arbitrum, BNB Chain, and others. More than 220 projects, including well-known names like MetaMask, were victims of these phishing websites.
Rumors and Clarification: Rumors circulated linking a Blast protocol pioneer to Inferno. However, after examining on-chain data, it was revealed that there was no actual connection between Inferno Drainer and the address of the Blast creator.
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