Security platform Blockaid has identified a new version of the malicious code Angel Drainer, designed to steal user funds from web3 protocols.
New Angel Drainer Version AngelX
Angel Drainer is a malicious code complex targeting crypto wallets and decentralized finance protocols. Blockaid discovered a new version, named AngelX, on August 31. This new version features enhanced cloaking capabilities and supports new chains such as Tron (TRX) and The Open Network (TON). AngelX was added to over 300 harmful decentralized apps within the first week of its launch. According to Blockaid researcher Oz Tamir, the upgraded design allows AngelX to evade most security vendors, achieving a 90% evasion rate.
Threat Levels in the Crypto Industry
The arrival of AngelX likely means more crypto scams and digital asset phishing campaigns in the year's final months. However, according to a Chainalysis report, illicit web3 activity declined by 20% in the first half of 2024, although stolen funds have increased. Hackers are leveraging more advanced tactics, including fake TikTok ads and hijacking social media accounts to promote memecoin scams.
Industry Response Measures
As hackers find new methods to circumvent web3 security systems, industry participants are joining forces to counteract the cyber siege. DeFi initiative SEAL 911 launched a first-responder Telegram bot to aid protocols and hack victims. Major companies like Coinbase are forming security alliances to create information databases to prevent future incidents.
The crypto industry faces new threats like AngelX, but active measures are being taken to protect users and their funds from emerging fraud schemes.
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