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$4 MILLION STOLEN BY SOLANA WALLET DRAINERS IN ONE MONTH

Rainbow Drainer and Node Drainer were the two most profitable wallet drainers
behind the phishing campaigns that stole millions of crypto from over 3,000
users.


Solana wallet drainers stole more than $4 million from users over one month.
Shutterstock
Samyuktha Sriram
Posted January 15, 2024 at 12:35 am EST.

Airdrop phishing-related crypto scams have been on the rise of late, with
sophisticated wallet draining software targeting Solana users over the last
month.

According to analysis from blockchain security firm Scam Sniffer, two main
Solana wallet drainers have stolen $4.17 million worth of crypto from 3,947
victims. 

> 1/ 🚨 Over $4M in assets have been stolen by sophisticated Solana wallet
> drainers, and nearly 4k users have fallen victim to these phishing attacks in
> the past month. pic.twitter.com/qyNQthr7Wk
> 
> — Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) January 13, 2024



Rainbow Drainer and Node Drainer are the two malicious software kits, which seem
to have first appeared around the second week of December 2023.

“Scammers employ anti-simulation techniques to prevent wallets from showing
balance changes. Victims unknowingly lose their assets by signing malicious
transactions,” noted Scam Sniffer. 

By their estimates, Rainbow Drainer has stolen $2.1 million from 2,189 users,
most of whom fell victims to airdrop phishing campaigns. Holders of the ZERO
token were targeted with phishing NFTs that were sent to them in an airdrop.
Since the details of the transaction were hidden, users who signed these had
their wallets drained of assets.

Meanwhile, Node Drainer scams largely targeted holders of the memecoin BONK and
also appeared in a phishing link from the hack of Mandiant’s X account.
Mandiant, a Google-owned cybersecurity firm, said that “some team transitions
and a change in X’s 2FA policy” resulted in the security breach.

One particular address that used Node Drainer made over $1 million in profit
after converting stolen ETH into USDC through the cross-chain solution
Allbridge. 

“Unlike most thefts on Ethereum, which are due to malicious approval issues, the
majority of phishing signatures on Solana involve initiating direct transfers,”
Scam Sniffer explained. 

In 2023, crypto wallet drainers stole an estimated $295 million from around
324,000 victims, with Inferno Drainer, MS Drainer and Angel Drainer accounting
for a collective $160 million stolen in March alone.

Posted in: DeFi Tech
Tagged in: crypto Solana wallet drainer
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