Report of the heavy cryptocurrency draining software scam explosion has been issued by Scam Sniffer. Since March, over ten thousand fraudulent websites have been discovered, created to deceive victims into transferring cryptocurrencies to malicious actors using various methods. The software responsible for this is known as MS Drainer, sold by its creator for $1,499, with additional add-ons available separately. This price is quite favorable compared to other contenders who often charge up to 20% of the earnings. This program supports draining funds from various chains including Ethereum, BNB Smart Chain, Polygon, Avalanche, Arbitrum, Fantom, and Optimism, covering both cryptocurrencies, tokens on the chains, and NFTs.
These deceptive websites often lure victims through targeted advertisements. By altering the webpage based on the visitor’s country, the websites trick ad services into only showing the script to the victim, while hiding it from the advertised services.
Analyzing the various chains, it was found that there have been a total of 63,210 victims of MS Drainer, with a cumulative value of $58.98 million. One victim alone lost over $24 million worth of Ethereum, equivalent to more than 830 million baht.
TLDR: Scam Sniffer has reported a surge in cryptocurrency draining scams via fraudulent websites, with over ten thousand identified so far. MS Drainer, the software behind these scams, has victimized over 63,000 individuals, draining a total of $58.98 million. One victim alone lost over $24 million worth of Ethereum, highlighting the severity of the issue.
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