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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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  • Blockchain
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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Web 3

Inferno Drainer Shuts Down After Millions Stolen

November 27, 2023
in Web 3
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Inferno Drainer Shuts Down After Millions Stolen
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Enhancing Security in Online Gambling with Blockchain Technology

Inferno Drainer, a crypto wallet-draining software, has been a sinister presence in the cryptocurrency industry since early 2023. Its mode of operations, replicating popular crypto brands to orchestrate scams, has given rise to substantial concerns regarding security infrastructure. However, the recent shutdown of this malicious service brings a measure of relief to thousands of crypto users. 

A Well-Orchestrated Deception

The scammers behind Inferno Drainer deleted the affiliate Telegram account “mr_inferno_drainer,” which was previously used to coordinate its services. The Inferno Drainer scheme replicated 229 well-known brands, such as MetaMask, OpenSea, and Collab.Land, and Pepe. 

Gaining notoriety after the closure of another similar tool, Monkey Drainer, Inferno Drainer, had caused significant damage by taking a 20% cut of crypto assets stolen by its users. According to analytics from Web3 anti-scam platform Scam Sniffer, the software was responsible for nearly $70 million of stolen assets from over 100,000 victims since February. 

The Importance of Cybersecurity Awareness

Inferno Drainer used a dual strategy to execute its malicious operations. First, it distributed nefarious software to others for exploitation. Second, it created fake versions of authentic websites, essentially operating as a ‘scam-as-a-service‘.

In these sham sites, unsuspecting visitors would unintentionally disclose critical information like passwords and private keys, thus granting the scammers access to their crypto assets. This combination of widespread software distribution and convincing counterfeit platforms proved deeply damaging, contributing to the staggering theft of millions worth of assets.

See also  WIF Plunges 11% As Whale Deposits Millions To Binance

Inferno Drainer’s shutdown highlights the imperative need for increased vigilance and cybersecurity awareness in the complex landscape of online fraud, particularly regarding cryptocurrencies. The software was sophisticated and deceptive, imitating trusted brands and ambushing victims who innocently interacted with the false websites. While the termination of its operations is a small win, it serves as a reminder of the ongoing battle against malicious entities in the digital world.

Tags: DrainerInfernomillionsShutsStolen

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