Vanilla Drainer has raised concerns among cybersecurity experts, having caused $5.27 million in cryptocurrency thefts in just three weeks.
Rise of New Threat in Cryptocurrency Crime
Cryptocurrency draining services, known as drainers, represent specialized criminal organizations. Vanilla Drainer is part of a new generation of such services. Blockchain security experts note its rapid development after several high-value thefts. 'I see Vanilla taking over many Inferno customers,' investigator Darkbit stated.
Financial Structure and Operations of Vanilla Drainer
The service operates on a standard model, taking 20% of the stolen cryptocurrency as compensation for the provided software. The largest theft amounted to $3.09 million. At the time of investigation, the wallet associated with Vanilla contained $2.23 million in various tokens, primarily in Dai and Ether.
Adaptation of Criminal Activity
Despite the shutdown of several other drainers due to increased security measures, Vanilla continues to advance its tactics. Research indicated new domain names are being used to evade detection. In July, cryptocurrency theft incidents rose, with 9,143 individuals falling victim to scammers.
Vanilla Drainer has emerged as a significant threat in the cryptocurrency landscape. Its rapid growth and substantial amounts of stolen cryptocurrency highlight ongoing challenges in digital security.
