According to blockchain security company ScamSniffer, a crypto whale lost more than $32 million after being defeated by a fraud operation called Inferno Drainer as a result of a transaction carried out at a loss.
Inferno Drainer Fraud Operation
Inferno Drainer is a fraud service that targets users by creating fake versions of famous DeFi applications. With this method, victims hand over control of their wallets to fraudsters.
Extent of Losses and Impact of the Operation
According to ScamSniffer’s Dune Analytics panels, the Inferno Drainer operation stole over $215 million in cryptocurrency from more than 200 thousand victims. Operators receive 20 percent of cryptocurrencies stolen from wallets.
Anti-Fraud and Warnings
The Izmet in question was reactivated with new features in May after being closed by the developers in November 2023. Crypto data platform LookOnChain warned users not to click on unknown links and avoid signatures they do not recognize:
To avoid being phished, please do not click on unknown links and do not sign unknown signatures. Always double check signatures when signing.
As scams become increasingly sophisticated, the security of cryptocurrencies requires extra care.
Ways to Protect from Malicious Attacks
To protect against such attacks, anti-fishing software and up-to-date antivirus programs must be used, and devices and software must be updated regularly. Additionally, security can be increased by using browser add-ons and pop-up blockers.
Two-factor authentication (2FA) should always be enabled and clicks on files from unrecognized sources should be avoided. One should also be careful against phishing attempts made via social media.
Inferno Drainer uses fake scripts of popular Web3 protocols to persuade users to link their wallets and confirm transactions. Scammers have also promoted their services via the Telegram channel. Finally, it is important to act consciously for the security of cryptocurrencies and take proactive measures against possible threats.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
