Recent investigations indicate that the new scam service Vanilla Drainer has caused over $5.27 million in cryptocurrency theft in the past three weeks.
What is Vanilla Drainer?
Vanilla Drainer is a new service linked to cryptocurrency theft, according to blockchain investigator Darkbit. This service provides fraudsters with software that allows them to steal funds through phishing attacks.
Methods Used by Fraudsters
Darkbit reports that Vanilla Drainer typically takes 15%-20% of the stolen proceeds before converting them to Ether (ETH) or stablecoins like Dai (DAI). One of the largest thefts occurred on August 5 when $3.09 million in stablecoins was stolen. Investigators noted that the operators received about $463,000, representing approximately 17% of the stolen funds.
Industry Response and Status
Despite several drainers, including Inferno, shutting down, experts highlight that scams like Vanilla continue to pose a significant threat. Darkbit claims Vanilla stays ahead of detection by creating new malicious contracts and rotating through domains for their phishing sites.
While draining volumes may decline overall, services like Vanilla Drainer highlight that fraudulent practices remain relevant and quickly adapt to changes in security measures.
