Scammers using a service named “MS Drainer” siphoned approximately $59 million in cryptocurrency from victims over the past nine months. This sophisticated operation involved using Google Ads to direct victims to fake versions of popular crypto sites such as Zapper, Lido, and Stargate. MS Drainer is a type of blockchain protocol that enables unauthorized crypto transfers from victims to attackers, exploiting the token approval process. The scammers cleverly bypassed Google's ad audits using regional targeting and page-switching tactics, and they also used web redirects to mislead users.
Scam Sniffer, a blockchain security platform, reported that it discovered over 10,000 fake sites utilizing MS Drainer, with the scam peaking in November before declining. The developer of MS Drainer marketed the service for a flat fee on forums, diverging from the typical percentage-based profit model of wallet drainers. This incident underscores a growing issue in the Web3 ecosystem, where wallet drainers like “Inferno” and “Monkey Drainer” have caused substantial losses for victims.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.