Cryptocurrency wallet drainers stole $494 million in 2024

Scam Sniffer’s 2024 analysis shows wallet drainer phishing campaigns stole $494M from 300k+ crypto wallets, with 30 large thefts (largest $55.4M) and activity peaking in Q1 and again in Aug–Sep led by services like Pink Drainer, Inferno, and Acedrainer. Most losses occurred on Ethereum targeting staking and stablecoins, using TTPs such as fake CAPTCHA/Cloudflare pages, IPFS hosting, Google/Twitter ads, and abuse of EIP-2612 “Permit” and “setOwner” signatures; recommended defenses include verifying URLs, reading approvals, simulating transactions, enabling wallet warnings, and regularly revoking token permissions.