Scam Sniffer Exposes Phishing Campaigns Draining Millions in Crypto
A hacker referred to as the “Wallet Drainer” has been identified by Scam Sniffer, a web3 anti-scam platform, for operating phishing campaigns on Google and social media. According to Scam Sniffer, this hacker has managed to drain approximately $58 million from over 63,000 victims in just nine months.
Sophisticated Methods Employed by Hacker in Crypto Theft
Scam Sniffer detected the phishing campaigns in March and has been tracking the activities of the hacker. They discovered that ZachXBT, a blockchain investigator, recently exposed nine phishing ads on X, with over 60% of these ads linked to the same wallet drainer. The hackers used regional targeting and page-switching tactics to evade ad audits, making it difficult for malicious ads to be identified and removed.
Crypto Hacker Activity Surges in Recent Period
The incident reported by Scam Sniffer is part of a larger trend of sophisticated crypto scams. In another case, NFT Trader fell victim to a hack that resulted in the theft of high-value Non-Fungible Tokens (NFTs) worth millions of dollars. The hackers exploited old smart contracts as their entry point. NFT Trader advised its users to revoke permissions previously granted to these smart contracts. The main attacker even left a public message on the blockchain, blaming another user for the exploit and proposing a ransom for returning the stolen tokens.
Hot Take: Vigilance is Key in Protecting Yourself from Crypto Scams
As the crypto industry continues to grow, so does the sophistication of scams and hacking attempts. It is crucial for you as a crypto user to stay vigilant and take necessary precautions to protect your assets. Be cautious of phishing campaigns and suspicious ads, and always verify the legitimacy of platforms and contracts before engaging with them. By staying informed and practicing good security practices, you can minimize the risk of falling victim to crypto scams.
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