$32 Million Phishing Scam Targets Prominent Crypto Whale Through Inferno Drainer

A well-known crypto whale lost over $32 million in wrapped ether tokens through a malicious transaction on Spark’s DeFi platform. The Inferno Drainer phishing group is behind the attack, sparking warnings across the DeFi space.

In a major phishing attack, a high-profile crypto whale has lost more than $32 million in tokens, as revealed by blockchain security service ScamSniffer. The breach occurred after the whale unknowingly signed a malicious transaction on Spark’s decentralized finance (DeFi) platform, resulting in the theft of 12.083 wrapped ether (spWETH) tokens, currently valued at approximately $32.4 million.

Inferno Drainer Strikes Again

The phishing scam was attributed to the Inferno Drainer group, which operates by taking a 20% commission on stolen funds. Initially shut down in November 2023, the group resumed operations in May 2024, claiming to have “new employees” and “improved functions,” making their activities even more dangerous. This attack is part of a series of widespread assaults on DeFi users across multiple networks.

Identity of the Victim

Arkham Intelligence, a blockchain analytics firm, identified the wallet as potentially belonging to Shixing Mao, also known as Discus Fish, co-founder of F2Pool and Cobo. However, this identification has a low confidence level. Despite the major loss, the wallet still contains cryptocurrencies worth about $5.44 million.

Notably, crypto investigator ZachXBT pointed out that the victim has been involved in large transfers with another popular wallet under the alias ‘czsamsun’ on the DeBank platform, suggesting a possible connection between the two entities. According to ZachXBT, the two wallets moved nine-figure sums between them, further deepening the mystery.

Phishing Schemes on the Rise

Following the theft, a message was sent to the victim’s wallet offering a 20% reward for returning the lost funds. The event has once again highlighted the dangers of phishing scams in the cryptocurrency world.

LookOnChain, another blockchain analytics firm, issued warnings on social media, advising users to be cautious when interacting with unknown links or signing unverified transactions. According to ScamSniffer, phishing scams in the crypto space caused over $173 million in losses in Q1 2024 alone, with incidents continuing to rise.

In 2023, the FBI reported that losses from phishing scams amounted to $9.6 million, and the growing prevalence of platforms like Inferno Drainer has sparked concern among DeFi participants.

Conclusion

As phishing schemes like Inferno Drainer continue to target unsuspecting victims in the DeFi space, users are advised to practice heightened vigilance. Avoiding unknown links and verifying transactions are critical steps in preventing such costly attacks.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)