Inferno Drainer: The Dark Side of Crypto Scams Revealed

What is Inferno Drainer?

Just when we thought the world of cryptocurrency couldn’t get any less trustworthy, the so-called “Inferno Drainer” pops up like a bad penny, stealing nearly $6 million from hapless crypto enthusiasts. This not-so-innocuous scam-as-a-service essentially caters to the underbelly of the crypto world, offering swagged-out code snippets to fraudsters willing to pay a 20% cut of their ‘loot’. So, if there was any lingering doubt that crime doesn’t pay, this one is kind of a bummer.

By the Numbers: Victims and Losses

With a staggering tally that reads like a horror movie, Inferno Drainer has reportedly siphoned off $5.9 million from around 4,888 victims. And it didn’t stop there! These thieves have operated through a mind-boggling **689** phishing websites, targeting popular crypto projects and effectively turning trust into their personal ATM. Next time you hear someone say, “There’s no such thing as bad publicity,” remember this statistic.

How it Works: The Mechanics of Deception

According to the dedicated sleuths over at Scam Sniffer, the Inferno Drainer team was so brazen that they flaunted their nefarious methods. Utilizing something known as the Permit2 exploit – a simpler version of the token approval saga – they would send unsuspecting crypto users into the downward spiral of losing their assets with just a click of a link. It sounds just like a sci-fi plot, except the villains skipped the whole “take over the world” part and went straight for the wallets!

Discovery and Response

The whole charade was exposed by a crypto enthusiast, 0xSaiyanGod, who found a promoter for Inferno Drainer lurking in the dark alleys of a Telegram channel. Armed with a screenshot of an eye-watering $103,000 stolen transaction, Scam Sniffer jumped into action. This crime-fighting agency then birthed a Dune analytics dashboard, showcasing all the keystrokes of this exploitative enterprise.

Scam as a Service: A Growing Concern

Unfortunately, Inferno Drainer isn’t the only dismal entry on this hit list. It joins an ever-growing list of similar services—hello, Monkey Drainer—that are consistently making life hell for crypto users. The frosty truth is that these scams are on the rise, suggesting that, much like bad weather in spring, we should brace ourselves for more to come.