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New Scam Siphoning Off $6 Million From Crypto-Raptors

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A scam-as-a-service company has siphoned off approximately $6 million worth of crypto assets from unsuspecting users. According to a report from Web3 scam-detecting firm Scam Sniffer, a scam vendor dubbed "Inferno Drainer" has stolen $5.9 million in assets from 4,888 victims across 689 phishing websites targeting popular projects since the start of the year.

The report detailed that Inferno Drainer specializes in multi-chain scams and provides ready-to-go code to scammers in return for 20% of the stolen assets. "By analyzing the associated data on the Mainnet, Arbitrum, BNB, and other chains, we found them has stolen about $5.9 million in assets and have nearly 4,888 victims so far!"The scam was discovered after a Twitter user who goes by the name of 0xSaiyanGod, also known for their interest in security matters, stumbled upon a promoter of the scam service while browsing the Scam Sniffer Telegram channel.

Upon reporting the scammer to the channel, the security service initiated an investigation. Scam Sniffer then uncovered a screenshot evidencing a $103,000 transaction made through a phishing scam that utilized a Permit2 exploit, which takes advantage of a simplified version of the token approval process.

With the transaction hash in hand, the Scam Sniffer team went on to search for the exploiter's address, which was eventually discovered.

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