Crypto News Today- Phishing Scam ‘Inferno Drainer’ Causes Investor to Lose $6.9 Million

Investor Duped by Inferno Drainer Phishing Scam, Suffers $6.9 Million Loss

Crypto News– A cryptocurrency investor recently fell victim to a sophisticated phishing scam, losing millions in the process. According to Scam Sniffer, a Web3 anti-scam firm, the investor was deceived into signing a malicious Permit phishing signature.

This authorization resulted in the theft of 1,807 Ether.fi-Liquid1 tokens, valued at $6.9 million. Additionally, blockchain investigator ZachXBT revealed that the same investor had been targeted in a phishing attack last year, resulting in a loss of $638,000.

Pink and Inferno Drainer Connected to Cyber Attack

The scam utilized a permit function, enabling off-chain authorization signatures to execute transactions on behalf of another address. This method facilitated token transfers without on-chain transactions, facilitating the theft.

The theft involved two wallets: 0xE56978, belonging to the scammer, and 0xFC4EA, associated with a drainer. Notably, the stolen funds remain within these addresses.

Additionally, MistTrack, a crypto tracking and compliance platform developed by SlowMist, identified links to Pink and Inferno Drainers, well-known draining-as-a-service (DAAS) providers involved in the theft. These drainers offer scammers tools for phishing exploits, including fake social media accounts and websites, in exchange for a portion of the stolen funds. BeInCrypto reported that these services were utilized to steal $295 million from 324,000 victims in 2023.

Last week, Pink Drainer announced its retirement after accumulating $85 million in stolen assets. Around the same time, Inferno Drainer resumed operations following a short break, attributing its return to increased demand and the exit of competitors.

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