Beware: Scam-as-a-Service Aiding Cybercriminals in Crypto Wallet-Draining Attacks

Researchers warn of a rise in multi-chain crypto wallet-draining phishing campaigns driven by 'scam-as-a-service' operators such as Angel Drainer and Inferno Drainer; attackers use malvertising and phishing to lure users to counterfeit sites and trick them into approving malicious smart contracts (approve/permit) that allow theft. Inferno Drainer alone reportedly helped steal over $70M from more than 103,000 victims, and actors monetize services by taking a cut of stolen funds, while victims are advised to use hardware wallets and review allowances to mitigate risk.