The infamous crypto wallet-draining service Inferno has handed over control of its platform to rival provider Angel Drainer.

This shift could signal a new and potentially more dangerous phase in the crypto-draining ecosystem.

Angel Drainer Absorbs Inferno’s Crypto-Draining Platform

On October 19, blockchain security firm Scam Sniffer reported that Inferno Drainer announced via Telegram that it had handed over its platform to the Angel Drainer team. The Inferno team expressed confidence in Angel’s ability to manage the drainer. The platform stated that Angel would maintain its code base and key features such as protocols, autoclaims, and bypasses.

“We find the Angel Drainer team competent enough to maintain the drainer (while keeping our code base and features such as 200+ protocols, autoclaims, bypasses as well as many big pending updates, new panel with logs handling and many other things) as they have shown they could be trusted,” Inferno drainer stated.

Additionally, Inferno reassured its clients that their existing data and functionality, including login credentials, statistics, and other service features, would remain unaffected.

Read more: Top 10 Must Have Cryptocurrency Security Tips

This handover is expected to have significant implications for the crypto-draining landscape. Wallet drainers typically provide scammers with phishing tools — such as fake social media accounts and websites — in exchange for a cut of stolen funds. In 2023 alone, these services enabled the theft of $295 million from 324,000 victims.

Yu Xian, founder of blockchain security firm SlowMist, commented on the development, noting the potential strength of the combined forces of Inferno and

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Author: Oluwapelumi Adejumo