As the crypto market turns bullish, the number of decentralized applications (DApps) using the Inferno Drainer tool has surged threefold, and scammers have stepped up their efforts to steal cryptocurrencies, Cointelegraph reported.
Data provided by Web3 security company Blockaid shows that by the end of July 2024, the number of DApps using Inferno Drainer had grown to 40,000. Oz Tamir, head of research and development at Blockaid, said the number of new malicious DApps has tripled. Tamir explained that at the beginning of this year, there were about 800 new malicious DApps per week, and now this number has increased to 2,400 per week.
Inferno Drainer is a phishing tool designed specifically for cryptocurrency that allows scammers to steal funds by tricking users into signing token approvals to access wallets. Inferno Drainer helped steal $70 million before claiming to be shut down in 2023, but it became active again this year. Tamir believes that scammers choose tools mainly based on availability and commissions.
Tamir also pointed out that the increase in the number of scammers is related to the bull run in the crypto market. As more users and funds enter the ecosystem, attackers have more incentive to invest in new types of attacks. In addition, the deployment of new chains also provides opportunities for attackers because these chains have fewer security measures.
