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Phishing scammer loots $1 million in cryptocurrencies

 


Phishing scams are a well-known problem in the crypto space. Cyber ​​criminals are stepping up their efforts with just one goal: draining crypto wallets worth thousands — if not millions — of cryptocurrencies.


As various crypto news outlets reported on Thursday, citing a self-proclaimed crypto researcher on social media by the name of ZackXBT, the “ famous ” scammer or organization “Monkey Drainer” stole about 700 ETH, or around one million, in the last 24 hours Dollar.


The wallets ending in 0x02a and 0x626 were two of the biggest victims of the scam, losing more than $370,000 combined. In particular, 0x626 has lost around $220,000 worth of cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Tether and popular NFTs.

Big loot from phishing scams

The other victim reportedly lost 1 Bored Ape Yacht Club (BAYC), 1 CloneX, $36,000 USDC and a dozen other NFTs totaling approximately $150,000. In the past few weeks, Monkey Drainer has successfully scammed a significant number of people. Twitter user ZackXBT has revealed that the total amount siphoned off from the theft exceeds $3.5 million and is growing.


So far, the fraudulent organization has been active for a few months, and during this time, the scammers have performed more than 7,300 operations. According to the US Federal Trade Commission, phishing is a type of online scam that targets consumers by sending them an email that appears to be from a reputable organization, such as B. from an Internet Service Provider (ISP), a financial institution, or even a tax payment agency.


The e-mail asks for the personal data of the recipient. The information is then used to open new accounts or gain access to the existing accounts, according to the FTC.


Cybercriminals have a lot to do this year

The crypto industry has endured a difficult 2022, but that hasn't stopped hackers from engaging in malicious activities. The social media platforms Discord, Telegram and Twitter have become an important field of activity for crypto scammers.


ZachXBT has emerged as a reputable independent “blockchain detective” over the past few years, uncovering many illicit activities in the crypto sector. Blockchain analytics firm CertiK uncovered nearly 300 phishing attacks, a 170% increase from Q1's 106 attacks.


authorities alerted

Christophe Durand, deputy head of France's national cyber unit, praised ZachXBT's help in identifying the phishing scams of five people suspected of stealing $2.5 million worth of NFTs earlier this month.


After the news broke, the Monkey Drainer team used automated bots to flood and spam the comment threads of almost all crypto-related tweets.


Despite numerous campaigns already in place to educate people about phishing activity, the perpetrators still manage to do their job, leaving investors with heavy losses, if not empty-handed.


At this point in time, it is unclear whether the scammer has access to other wallets.

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