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Investor Loses $6.9 Million in Inferno Drainer Phishing Scam

A cryptocurrency investor recently lost millions to a sophisticated phishing scam. Scam Sniffer, a Web3 anti-fraud company, reported that an investor was tricked into signing a malicious phishing signature.

This authorization led to the theft of 1,807 tokens, worth $6.9 million. Additionally, blockchain investigator ZachXBT noted that the same investor was the victim of a phishing attack last year, losing $638,000.

Pink color and drying hell are associated with attack

The scam involved the use of an authorization function, allowing an off-chain authorization signature to execute transactions on behalf of another address. This method allowed tokens to be transferred without on-chain transactions, making theft easier.

The theft involved two wallets, 0xE56978, of the fraudster and 0xFC4EA, belonging to Dryer. It should be noted that stolen money is still among these addresses.

Meanwhile, MistTrack, a cryptocurrency tracking and compliance platform built by SlowMist, has found connections to Pink and Inferno Drainers, drain-as-a-service (DAAS) providers known for theft . Spammers provide tools that fraudsters can exploit Phishing, like fake social media accounts and fake websites, in exchange for stolen silver coins. BeInCrypto reported that these services were used to steal $295 million from 324,000 victims in 2023.

“Another huge amount of phishing, worth almost $7 million in ETH pledged assets... from the former Inferno Drainer phishing gang. The reason is that the authorization signature that is not linked to the corresponding authorization has been deleted. "Many people haven't heard of phishing scams or '1click f#ck' rumors? I hope victims can come forward to tell their own stories, especially the wallets they used." Yu Xian, founder of SlowMist.

Scan showing Pink and Inferno Drainer linked to the attack.
Scan showing Pink and Inferno Drainer linked to the attack. Source: Mist Trail

Last week, Pink Drainer announced her retirement after amassing $85 million in stolen assets. Around the same time, Inferno Drainer resumed operations after a brief hiatus, citing increased demand and the departure of competitors.

Learn more: Beware of cryptocurrency scams during the halving period!

This incident also shows that phishing attacks remain a prevalent method for stealing digital assets. Scammers often use fake accounts on social media platforms to pose as legitimate businesses. These accounts may display fake verification tags and post deceptive comments to lure users to malicious websites that drain their assets.

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