Inferno Drainer Shuts Down after Heist of Over $80M

Inferno Drainer Shuts Down after Heist of Over $80M

| Updated
by Benjamin Godfrey · 3 min read
Inferno Drainer Shuts Down after Heist of Over $80M
Photo: Unsplash

Despite the shutdown of Inferno Drainer, the crypto community remains vigilant as other providers, such as Pink Drainer and Angel Drainer, continue their operations.

Inferno Drainer, one of the most notorious crypto wallet-draining kits, has announced its closure after assisting phishing scammers in stealing over $80 million worth of crypto this year. The team behind the infamous tool took to Telegram on Sunday to declare the end of their journey and bid farewell to their users.

Inferno Drainer Shares Farewell Message

“The end of the craziest journey. Inferno Drainer is shutting down. It has been a long ride with all of you, and we’d like to thank you from the heart. Unfortunately, nothing lasts forever. After draining over $80 million, we’ve decided to shut down. It’s time for us to move on,” the team stated in their final message.

Notably, Inferno Drainer rose to prominence earlier this year, gaining traction following the closure of the popular Monkey Drainer tool. Similar to its predecessors, Inferno offered a crypto wallet-draining software and claimed a 20% cut of the stolen funds.

According to analytics from Web3 anti-scam platform Scam Sniffer, Inferno Drainer managed to pilfer nearly $70 million from over 100,000 victims since February. However, the Inferno Drainer team suggested the actual amount stolen was over $80 million.

The team behind Inferno Drainer revealed that all files, servers, and devices related to the tool would not be destroyed. They assured users that the servers would be left running to facilitate a smooth transition for those seeking alternative services. Users were encouraged to split the not auto-split assets among themselves.

In a cautionary note to the crypto community, the team urged users not to trust any individuals or groups claiming to be affiliated with them in the future. They emphasized the finality of their decision, declaring, “A big thank you to everyone who has worked with us. We hope you can remember us as the best drainer that has ever existed and that we succeeded in helping you in the quest to make money. Goodbye.”

Blockchain security firm CertiK labeled Inferno Drainer as “one of the most damaging phishing kits” to the crypto community. The announcement of its closure has brought a sense of relief to potential victims, but it also raises concerns about the prevalence of such malicious activities within the crypto space.

Ongoing Threats and Competing Drainers

Despite the shutdown of Inferno Drainer, the crypto community remains vigilant as other providers, such as Pink Drainer and Angel Drainer, continue their operations. The latter even released an update shortly before Inferno’s closure. This emphasizes the importance of implementing robust security measures to protect users and their digital assets.

In response to the escalating threats of exploits and fraud within the crypto sector, KPMG Canada recently announced a strategic partnership with blockchain analytics firm Chainalysis. This collaboration aims to enhance KPMG’s expertise in forensic investigations and crypto assets, reflecting the industry’s recognition of the need for proactive measures against criminal activities.

Blockchain News, Cryptocurrency News, Cybersecurity News, News, Technology News
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