The phishing scammer “Monkey Drainer” stole cryptocurrencies worth over $1 million through phishing.
ZachXBT, a crypto on-chain sleuth and scam detective, recently alerted on a notorious phishing scammer called “Monkey Drainer,” who reportedly stole 700 ETH worth over $1 million.
ZachXBT Uncovers Monkey Drainer’s Scam
ZachXBT, after tracking the records and transactions of the alleged “Monkey Drainer,” realized that the scammer had stolen $1 million worth of crypto from different wallet addresses. Two of the addresses with large amounts of crypto stolen were 0x02a and 0x626.
According to the report by ZachXBT, the account 0x02a allegedly lost cryptocurrencies and NFT collection’s totaling approximately $150,000. 1 Bored Ape Yacht Club (BAYC) collection, followed by 1 Clonex, 36,000 USDC, alongside 12 other NFT collections.
The second address, 0x626, according to ZachXBT’s report, held over $6.2 million worth of cryptocurrencies but lost just 220k after rejecting several transaction requests.
Furthermore, ZachXBT said the victims registered transactions on a malicious phishing website owned and controlled by these scammers, which granted the scammers access to their operation. He further warned the public in a tweet to be cautious while registering on any website online.
“Please be extra diligent before visiting unknown sites, adding your wallet, and signing transactions,” ZachXBT said.
Meanwhile, the scammer has already conducted about 7,300 transactions within a few months of being active and still expanding. ZachXBT said that the total amount stolen in the scam is $3.5 million.
Crypto Scams On The Rise
Online scams have since been a major challenge in the crypto industry, these scams continue getting much more advanced and tricky each day, especially “phishing scams.” This type of scam has been majorly used in exploiting users of several crypto exchange companies and financial organizations.
So far this year, more than $3 billion in cryptocurrencies have been lost to hackers, according to Chainalysis.