A cryptocurrency wallet-draining operation shuts down after making millions

A cryptocurrency wallet-draining operation shuts down after making millions

The platform allegedly helped thieves steal over $80 million in cryptocurrency

One of the most widespread cryptocurrency wallet-draining kits available, Inferno Drainer, announced that it’s shutting down its services permanently after aiding phishing scammers in stealing almost $70 million in crypto in 2023.

The Inferno Drainer team announced in a November 26 Telegram post that it was “time for us to move on,” adding that the files and infrastructure required to run the wallet drainer software won’t be eliminated and will stay active so users can have a “smooth transition” to other providers.

“It has been a long ride with all of you and we’d like to thank you from heart [sic]. Unfortunately, nothing lasts forever,” continued the post. “A big thank [sic] to everyone who has worked with us. We hope you can remember us as the best drainer that has ever existed and that we succeeded in helping you in the quest of making money,” it added.

Inferno Drainer gained stature in early 2023 after the popular Monkey Drainer tool ended operations after saying it was “time to move on to something better.” It offered the use of its crypto wallet-draining software for a 20% cut of the amount stolen by users.

Over 100,000 wallets have been victims of Inferno Drainer since February, with nearly $70 million stolen, according to Web3 anti-scam platform Scam Sniffer. However, the Inferno Drainer team says the stolen funds were over $80 million.

Inferno Drainer has deleted its affiliate Telegram account, “mr_inferno_drainer,” which it used for arranging its service, warning users not to entrust other drainers who may use the name in the future.

Just because Inferno Drainer is gone doesn’t mean there aren’t others to fill the void. Pink Drainer and Angel Drainer are still active, creating new ways to help thieves steal crypto.

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