The post Assistant for $70M+ Stealings Inferno Drainer Announces Shut Down  appeared on BitcoinEthereumNews.com.

Digital attacks and hacks within the cryptocurrency industry have only increased as the market has grown in size of user base and valuation. Tracking of funds is already tricky after the mishap and then mixer protocols and crypto wallet drainers-like services make it tougher to get through.  One such wallet drainer which gained quite popularity in the past months and helped steal $70 Million, Inferno Drainer, announced a wrap-up.  The announcement came over the Telegram post on November 26, 2023, where Inferno Drainer noted shutting down its services. It confirmed the “end of the craziest journey.” Though the post underscored that the time for the protocol to “move on” has come, the wallet drainer would still facilitate the files and infrastructure. It will not deactivate them along with the other services to ensure a smooth transition of users to other services.  The crypto wallet Drainer noted, “It has been a long ride with all of you and we’d like to thank you from the heart. Unfortunately, nothing lasts forever. After $80M+ drained, we decided to shut down, it’s time for us to move on.” Source – Telegram  The cryptocurrency market is in its infancy and the security measures around the industry are still in the making. Often the users report their assets getting stolen or digital attacks on decentralized finance (DeFi) protocols.  Hackers would not have gotten away with the stolen assets if crypto wallet drainer software providers like Inferno Drainer were not there to assist.  Inferno Drainer Assisted to Carry Out Over $70M Thefts The crypto wallet drainer had been active since the previous infamous service provider, Monkey Drainer, announced shutdown earlier this year. According to Web3 anti-scam platform, Scam Sniffer, Inferno Drainer exploited over 103K users and drained more than $70 Million in crypto assets.  As per blockchain…

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Filed under: News - @ November 27, 2023 2:16 pm