According to on-chain detective ‘ZachXBT,’ a phishing scammer named Monkey Drainer has allegedly stolen 700 ETH worth over $1 million.
The alleged scammer has been successful in fooling a number of users over the recent few weeks. According to the researcher, the total cash plundered in the scam has exceeded $3.5 million and is growing quickly.
The hacker has been operating for a few months and has completed more than 7,300 transactions.
Phishing attacker stole $370k from 2 victims
The two most severe victims by the wallet addresses 0x626 and 0x02a lost a combined $370k after approving transactions on fraudulent phishing websites run by the offender.
One of the victims, 0x626, held more than $6.2 million worth of crypto but ended up losing only $220k because they rejected the other transaction requests, added ZachXBT. The other one, 0x02a, reportedly lost 36,000 USDC,1 CloneX, 1 Bored Ape Yacht Club (BAYC) collection, and 12 other non-fungible tokens (NFT) totaling around $150,000.
The detective warned stating, “Please be extra diligent before visiting unknown sites, connecting your wallet, and signing transactions.”
ZachXBT also claimed that well-known crypto influencer Lark Davis pushed low-cap projects including APY, BMI, SHOPX, XED, and PMON before dropping them on the community’s naïve users. He reportedly made $1 million from doing so.
The cryptocurrency market has had a difficult year in 2022, but that hasn’t prevented phishing scams attacking cryptocurrency on social media. The number of phishing attacks reported by blockchain analysis company CertiK during the second quarter increased by 170%, from 106 to 290.
In a more recent incident, hackers chose to target a number of FTX users and were successful in acquiring cryptocurrency worth $1.26 while in other incidents hackers have taken over Gate.io, an exchange platform’s official Twitter account as theCoinRise reported. Twitter, Telegram, and Discord have all grown to be major centers for cryptocurrency scams on social media.