$1M of Crypto Stolen by Infamous Hacker

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prolific scammer by the name of Monkey Drainer has managed to drain over $1 million worth of ETH and NFT tokens in the past day.

ZachXBT, an on-chain sleuth, was the first to break the news of a cryptocurrency scam. Using phishing techniques, the hacker managed to steal user funds. ZachXBT was able to track and highlight the activity of the hacker.

Monkey Drainer, a phishing scammer, has stolen over $1 million worth of Ethereum in the span of 24 hours. This thief recently surpassed 7300 transactions from their drainer wallet after being active for only a few months," the researcher said.

The person hit the hardest, "Victim 0x626," originally possessed over $6.2 million in cryptocurrency but lost $220,000 in the breach. Researchers noted that this could have been much worse had they not also rejected other transactions attempted on their account. The second largest victim, "0x02a" reportedly lost one Bored Ape Yacht Club (BAYC), one CloneX, $36,000 in USDC stablecoin and 12 additional NFTs totalling around $150,000.

With phishing scams, scammers commonly share links to websites that look like real projects or companies. By offering an appealing purchase chance, they try to fool victims into giving out confidential credentials.

Mike

An editor at Coincrop

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Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.