- A new phishing scam targeting top NFTs, marketplaces and cryptocurrencies has already siphoned roughly $6 million
- Known as Inferno Drainer, it thrives by creating fake websites of top NFT and crypto projects
- Popular projects targeted by the scam include Pepe, Bored Apes, Sui and OpenSea
A new phishing scam targeting top NFTs, marketplaces and cryptocurrencies has already siphoned roughly $6 million from over 4,800 victims in less than two months. Known as Inferno Drainer, the scam thrives on creating fake websites of top projects in the Web 3.0 space with Pepe, Bored Apes, Sui, OpenSea and Blur being among hundreds of targeted brands. The scam comes on the heels of the pig butchering crypto scam and seven months after the French police nabbed NFT scammers targeting Bored Ape NFT holders.
Ethereum Users Worst Hit
According to anti-scam platform Scam Sniffer, Inferno Drainer takes a different approach since it offers services to malicious actors wishing to scam unsuspecting crypto and NFT holders. The security platform added that Inferno Drainer specializes “in Multi-chain scams.”
1/ Inferno Drainer, a scam vendor specializing in multi-chain scams, has stolen $5.9 million in assets from nearly 4,888 victims through over 689 phishing websites targeting popular projects.https://t.co/OEjdzHm2Ls
— Scam Sniffer (@realScamSniffer) May 19, 2023
Data from top blockchains such as Ethereum, BNB Chain and Arbitrum shows that scammers using the service have lured 4,888 victims who have cumulatively lost close to $6 million across crypto and NFTs, with Ethereum users bearing the brunt of the losses.
Scam Sniffer identified over 680 phishing websites launched by Inferno Drainer between late March and May 19 this year, with the websites targeting over 200 brands across the crypto and digital collectibles world.
Inferno Drainer Victim Negotiates a 50% Deal
Instead of selling their services for a fixed price, the scam vendor takes a 20- 30% cut of the loot. Among the most affected victims is a wallet holding around $400,000 in assets. The victim reached out to the scammers requesting they keep half of the funds and return the rest.
Other popular NFT scam victims include Moonbirds creator who lost artworks worth $1 million and RTFKT COO who lost $173,000 worth of NFTs.
With the rise of crypto and Web 3.0 adoption, malicious actors are likely to continue perfecting their trade to nab both novice and experienced crypto and NFT investors.