Inferno Drainer-linked wallet steals $1.28m in PEPE and cryptocurrencies

On Oct. 14, a cryptocurrency investor lost 108 billion PEPE, 73.8 million APU, and 165,000 MSTR tokens after completing a phishing permission signature transaction.

#PeckShieldAlert The address 0xb0b8...40c7 has been drained of ~$1.28M worth of cryptos, including 108B $PEPE, 73.8M $APU, and 165K $MSTR, after signing a #phishing permit signature.
The #phishing address #Fake_Phishing442846 is linked to the scammers who drained $32M worth of… pic.twitter.com/fq3a4DD0tD

— PeckShieldAlert (@PeckShieldAlert) October 14, 2024

According to blockchain security startup PeckShieldAlert. An approval phishing assault takes over a victim's wallet, enabling criminals to steal the money. The victim's wallet, “0xb0b..40c7,” lost $1.2 million in cryptocurrency over six transactions in a few minutes, with the attackers distributing the stolen funds across various addresses. Two weeks ago, “Fake_Phishing442846” signed a similar fraudulent transaction that cost the wallet over $32 million in spWETH tokens.

According to blockchain intelligence company Arkham, Inferno Drainer, a supplier of multi-chain bitcoin fraud services, was reportedly used to carry out the assault at the time. The criminals responsible for the most recent assault probably also used scam tools. Anyone unfamiliar with Inferno Drainer may use it to build harmful websites and apps that steal cryptocurrency by tricking users into giving up control of their wallets. Phishing website developers charge con artists 30% upfront and 20% for every successful attack. According to Dune analytics, Inferno Drainer has stolen $237,775,036 from over 200,000 victims across many crypto-related enterprises. The creators revealed their intentions to permanently end the service on November 26, 2023. A renaissance of interest among the toolkit's "customers" led to its reemergence in May 2024.

**BREAKING**

🚩Inferno Drainer is BACK IN BUSINESS🚩🙃

This isn't good news, in case you are somehow unaware...

(yes, I know they never really shut down all the way, so I know a lot of you aren't going to be surprised about this at all) pic.twitter.com/zbWCkXquTd

— Plum (@Plumferno) May 20, 2024

Approval phishing assaults are among the most common causes of victims' losses, and phishing attempts, in general, have been an increasing problem in the cryptocurrency field. Chainalysis estimated in August that since 2021, these assaults had stolen more than $2.7 billion. A wallet allegedly associated with a venture capital firm lost over $35 million worth of fwDETH tokens last week after signing questionable permission. According to blockchain security company CertiK's Q3 report, phishing was the most devastating attack vector for the quarter, with damages totaling $343.1 million over 65 cases.