The infamous Angel Drainer scam kit is back with a new and improved version called AngelX, which has deployed hundreds of malicious apps, according to a new report from blockchain security firm Blockaid.
In a statement shared on September 4, Blockaid said the new AngelX system deployed 300 malicious decentralized applications (DApps) intended to steal digital assets from cryptocurrency users.
Blockaid said one of AngelX's most troubling features is its ability to support upgrades for fraudulent applications targeting users on "newer, less mature" blockchains like The Open Network (TON) and Tron.
“[AngelX] found these chains to be less equipped to withstand attacks, due to a lack of robust security tools and support,” Blockaid noted.
Additionally, the company noted that it has detected more than 150 new scams powered by the AngelX system since its launch on August 31.
Blockaid says the new AngelX system has an extremely high “evasion” rate, meaning many of its malicious apps may go undetected by other security vendors in the cryptocurrency space.
The AngelX system also features an upgraded user interface (UX) and dashboard, allowing scammers to easily create custom scam applications across more blockchains.
Blockaid said early detection of the AngelX system helped the company protect about $400,000 in potential stolen assets in its first five days of operation.
Angel Drainer was previously reported to have largely ceased operations on July 16 after the developers realized their identities may have been exposed.
Security analysts estimate that around $25 million in cryptocurrency assets have been stolen through phishing scams powered by Angel Drainer.
Drainer kits are applications that allow phishing scammers to easily drain cryptocurrency users' wallets by tricking them into unwittingly approving tokens. In most cases, Drainer kits are offered to scammers in exchange for a portion of the stolen loot the scammers obtain.
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