New Strategy of Wallet Drainers
Scammers targeting the Solana ecosystem have come up with a new strategy to appear trustworthy. They are now creating vanity addresses that end in ‘11111’. This tactic is aimed at deceiving users and making them believe that the scammers are legitimate. A snapshot provided by Scam Sniffer shows a highlighted wallet address, eWxJC…11111, as proof of this new approach.
Expansion into Ethereum, Solana, and Tron Ecosystems
These wallet drainers have already infiltrated the Ethereum, Solana, and Tron ecosystems. They were previously involved in an airdrop scam targeting crypto enthusiasts. The scammers lured people by offering exclusive opportunities to receive ETH, SOL, and TRX rewards. Now, they have expanded their reach into these communities, taking advantage of the popularity and reputation of these crypto networks.
Losses in Solana Wallet Drainer Scams
Mandiant’s X account was compromised on January 3, 2024, leading to the distribution of links to a cryptocurrency drainer phishing page. The cybersecurity firm managed to regain access to the account within a few hours and released information about the CLINKSINK drainer used in the attack. According to Mandiant’s report, scammers have been using the CLINKSINK drainer since December 2023 to target Solana users. These drainers act as scripts or smart contracts that trick victims into approving transactions, resulting in significant fund or token losses.
The identified campaigns involving the CLINKSINK drainer had 35 affiliate IDs associated with a drainer-as-a-service (DaaS). The operators of these DaaS supply scripts to affiliates and receive a 20% share of stolen funds. As a result, over $900,000 worth of SOL has been lost in these Solana scams.
Social Media and Chat Apps Used for Phishing
The scammers behind these campaigns utilize social media platforms like X and chat apps like Discord to distribute CLINKSINK-themed phishing pages. These pages imitate legitimate cryptocurrency resources such as Phantom and DappRadar. Victims are lured with promises of fake token airdrop rewards, and when they connect their wallets to claim these rewards, they unknowingly sign transactions for the fake airdrop. This allows the CLINKSINK drainer to drain their funds.
Hot Take: Crypto Scammers Adopting New Tactics
Crypto scammers targeting the Solana ecosystem have evolved their tactics by creating vanity addresses that end in ‘11111’ to appear trustworthy. This new strategy aims to deceive users into believing that the scammers are legitimate. Additionally, these scammers have expanded their reach into the Ethereum, Solana, and Tron ecosystems, targeting crypto enthusiasts with a fake airdrop scam. The use of social media and chat apps has made it easier for scammers to distribute phishing pages and trick victims into signing transactions for fake airdrops. As a result, substantial losses have been incurred in Solana wallet drainer scams. It is crucial for crypto users to stay vigilant and verify the authenticity of any offers or addresses before making transactions.
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