The post Cryptocurrency Losses Rise Due to Inferno Drainer appeared on BitcoinEthereumNews.com.

A massive fraud operation linked to the Inferno Drainer scam has reportedly resulted in a cryptocurrency whale losing more than $32 million, according to ScamSniffer, a blockchain security firm. The operation lures victims by imitating well-known DeFi apps, convincing users to unknowingly surrender control of their wallets. What Is the Inferno Drainer Fraud? The Inferno Drainer scheme primarily targets unsuspecting users, leading to significant financial damage. Victims are tricked into providing wallet access, exposing their assets to theft by scammers. How Extensive Is the Financial Damage? The data from Dune Analytics, as analyzed by ScamSniffer, reveals that the Inferno Drainer has stolen over $215 million from more than 200,000 individuals. The perpetrators keep 20% of the stolen cryptocurrencies as their cut. With the fraud becoming more advanced, a range of measures is necessary to combat these scams. Key points to consider include: Scammers use fake interfaces of known Web3 protocols to access wallets. The use of Telegram channels to promote fraudulent activities has been observed. Ensuring devices have updated anti-phishing software is crucial for protection. What Are the Best Practices for Staying Safe? To safeguard against such malicious activities, using updated antivirus software and enabling two-factor authentication are critical. Avoiding suspicious links and transactions is equally important. By staying vigilant, users can protect themselves against these sophisticated scams. Efforts to educate users on the risks and preventive measures in the cryptocurrency space are vital. Adopting security best practices and remaining aware of common scam tactics are essential steps to safeguard digital assets in an increasingly digital financial world. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/cryptocurrency-losses-rise-due-to-inferno-drainer

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Filed under: News - @ September 29, 2024 6:14 am