Phishing Scammer Steals $1 Million In Cryptocurrency Over The Past 24 Hours

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Last Updated on October 27, 2022 by Bitfinsider

On Thursday, multiple crypto news outlets reported, citing a self-proclaimed crypto investigator on social media who goes by the alias ZackXBT, that the notorious con artist known as “Monkey Drainer” had stolen over 700 ETH, which is equivalent to approximately one million dollars.

Wallet addresses that ended in 0x02a and 0x626 were two of the most significant victims of this scam, losing a combined total of more than $370,000 as a result.

To be more specific, 0x626 has been unable to retrieve around $220,000 worth of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether, and popular sport NFTs.

The other victim is said to have suffered the loss of one Bored Ape Yacht Club (BAYC) collection, one Clone X, 36,000 USDC, and twelve additional NFTs with a combined value of around $150,000, according to the reports.

Over the course of the past few weeks, Monkey Drainer has been effective in deceiving a significant number of individuals. The investigator discovered that the total amount stolen in the heist was greater than $3.5 million, and it is continuing to rise even now.

Up until this point, the fictitious organization has been in business for a few months, during which time the con artists have been successful in more than 7,300 of their endeavors.

Christophe Durand, the deputy chief of France’s national cyber unit, praised ZachXBT’s assistance in identifying the phishing scams of five individuals who are suspected of stealing $2.5 million worth of NFTs earlier this month. ZachXBT was able to help identify the scams because of the company’s expertise in blockchain technology.

Over the course of the past few years, ZachXBT has developed into a highly regarded independent blockchain inspector, putting light on a significant amount of illegal activities in the cryptocurrency industry. The number of phishing attacks that were discovered by the blockchain analysis business CertiK increased by 170% from the first quarter’s total of 106 to approximately 300.

In the meantime, as soon as the news spread, the Monkey Drainer crew began using automated bots to flood and spam the comment threads of virtually all tweets that were relevant to cryptocurrencies.

Even while there are currently a great number of initiatives that attempt to educate people about phishing activities, the criminals nevertheless manage to accomplish their dirty work, leaving investors to face with significant losses, if not coming away completely empty handed.

As of the time this article was written, it is unknown whether the spammer has access to further wallets; hence, additional malicious transactions may have the potential to take place on the network.


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