Arkham Intel reported that the Inferno Drainer crypto hack stole funds allegedly belonging to a Swiss investment fund, PrismInvest. Inferno Drainer siphoned $900,000 worth of LINK tokens on January 27, 2024, raising concerns about the recent tokenization boom.
Infamous hacking group Inferno Drainer reportedly secured signatures from “Alchemist63” for two separate transactions.
Crypto Hack Loses Almost $1 Million
The attack on the Swiss fund reportedly occurred on the morning of January 27, 2024. The first transaction signed by Alchemist63 drained $400,940 worth of LINK. Twelve seconds later, Inferno duped Alchemist63 into switching chains and transferring an additional $456,400 in LINK.
The victim’s address resembles a Binance account registered to a Swiss investment company, PrismInvest. The address has deposited roughly $300,000 into Binance over several years.
According to threat-detection service Scam Sniffer, Inferno Drainer stole approximately $81 million out of the $295 million siphoned through drainer attacks last year. Recently, authorities in Singapore warned of a new software kit for sale on the darknet that makes wallet-draining straightforward.
The hack usually starts as a phishing scam where a user is directed to a fake airdrop website. They then are asked to connect their wallets, authenticate their accounts, and interact with a smart contract. Unbeknown to the victims, the smart contract is seeded with malicious code that drains their crypto wallets and ensures their flows through crypto mixers.
Read more: How To Identify a Scam Crypto Project
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Author: David Thomas
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