Inferno Drainer Scam Targets Crypto Users, Steals Millions

Introduction to Inferno Drainer

Inferno Drainer is an emerging scam service that has reportedly stolen nearly $6 million from unsuspecting cryptocurrency users. This service is essentially a "scam as a service," providing ready-made code to scammers in exchange for a 20% share of the stolen crypto assets.

Discovery and Investigation

The scam was uncovered by a security enthusiast known as 0xSaiyanElite, who noticed a promoter of Inferno Drainer on a Telegram channel dedicated to scam detection. This discovery prompted an investigation by Scam Sniffer, a Web3 scam detection firm. Their research revealed a screenshot of a significant $103,000 transaction drained using a Permit2 exploit.

Mechanism of the Scam

Inferno Drainer operates through phishing scams that manipulate the token approval process. The Permit2 exploit is a simplified version of this process, allowing scammers to easily trick users into approving transactions that drain their crypto wallets.

Impact on the Crypto Community

The emergence of Inferno Drainer highlights the ongoing risks within the cryptocurrency space, where users must remain vigilant against sophisticated scams. The significant financial losses underscore the importance of security awareness and proactive measures in safeguarding digital assets.

Conclusion

Inferno Drainer represents a new wave of threats targeting crypto users. By offering ready-to-use scam tools, it facilitates financial theft on a large scale. Awareness and education remain crucial in combating these evolving threats and protecting the integrity of the cryptocurrency ecosystem.