As cryptocurrencies gain popularity, scammers are developing new and sophisticated methods in this field. Crypto wallet emptiers have become an increasing threat lately. Four major crypto wallet emptiers, namely Pink Drainer, Inferno Drainer, Pussy Drainer, and Venom Drainer, have targeted thousands of individuals since the beginning of 2023, resulting in a total of $66.4 million worth of stolen cryptocurrencies. #wallet

Actions of Emptiers:

Crypto wallet emptiers operate through malicious smart contracts called "sweeps" or phishing scams. These malicious software transfer assets from victims' wallets without their knowledge. An associated transaction linked to a smart contract leads to the theft of a portion or all of the victim's assets without their consent. #hackers

Activities of Emptiers:

According to Scam Sniffer, a Web3 anti-scam platform, Venom Drainer has been the top emptier, having stolen the highest amount to date. Venom Drainer, which has stolen $27.5 million since February, maintains its leading position within this group. Inferno Drainer comes second, having stolen $21.2 million along with nearly 45,800 victims since January. Pussy Drainer and Pink Drainer have collectively stolen $17.5 million from over 6,000 victims. Monkey Drainer, during its reign, estimatedly stole $13 million worth of digital assets.

Business Model of Emptiers:

According to Scam Sniffer, most crypto wallet emptiers collaborate with groups conducting phishing scams to receive a percentage of the stolen amount. However, some emptiers also demand an additional access fee. For instance, according to CertiK, emptiers like Inferno charge a "20 percent commission," while Venom initially requests a "starting fee of $1,000."

New Emptiers:

As per the information provided by Scam Sniffer, crypto wallet emptiers are constantly changing. When one emptier ceases its operations, a new emptier takes its place. This indicates that being an emptier is a lucrative business and none of them have been caught so far.

In Summary:

Crypto wallet emptiers pose a significant threat that users need to be cautious about. Users should avoid clicking on links or emails from unknown sources and take additional measures such as two-factor authentication to ensure security. Furthermore, increasing security awareness and acting consciously are crucial in defending against crypto wallet emptiers.