In a recent report, blockchain security platform Scam Sniffer revealed a new wave of sophisticated phishing attacks taking place in the Solana ecosystem. According to the report, these Solana wallet leakers stole more than $4 million in user assets from 4,000 victims over the past 30 days.
Scam sniffer raises alerts about new Solana phishing scam
Scam Sniffer shared information about a new, sophisticated attack targeting Solana wallets in an X post on January 13th. The “Web3 Anti-Scam Platform” stated that phishing attacks against the Solana network often focus on exploiting vulnerabilities in direct asset transfers and transaction stimulation.
They also highlighted two fraudsters behind these attacks: Rainbow Drainer and Node Drainer. According to Scam Sniffer, Rainbow Drainer was first discovered on December 16, 2023, after one of the victims submitted a report about an airdrop phishing event.
1/ 🚨 A sophisticated Solana wallet drainer led to the theft of more than $4 million in assets, with approximately 4,000 users falling victim to these phishing attacks over the past month. pic.twitter.com/qyNQthr7Wk
— Scam Sniffer | Web3 Scam Prevention (@realScamSniffer) January 13, 2024
Rainbow Drainer steals information from unsuspecting users who unknowingly authorize malicious transactions. These scammers also use anti-simulation measures that hide changes in a victim’s wallet balance. Using data from Dune Analytics, Scam Sniffer reports that Rainbow Drainer hit 2,189 Solana users, looting $2.14 million in assets. This includes $465,817 BONK, $173,382 ZERO, $165,932 USDT, $116,612 mSOL and $93,266 USDC.
According to a report by Scam Sniffer, Solana Node Drainer started operating during the Christmas period. According to the “anti-fraud” platform, the scammers stole $2.03 million worth of tokens from 1,759 victims over the past two weeks. Stolen assets include 638,644 ANALOS, $325,432 BONK, $93,987 SILLY, and $80,329 USDC. Among this loot, Scam Sniffer noted that Node Drainer has already recorded over $1 million in profit by exchanging some USDC for ETH through AllBrigde.
The security platform advises all cryptocurrency users to be alert and cautious of these attackers, describing the blockchain space as a “dark forest.”
The war against cryptocurrency theft continues
Scams, hacking, and scams remain a common concern in the cryptocurrency industry for many investors, companies, and countries around the world. According to a report by financial publication CFO, approximately $1.8 billion will be lost to cryptocurrency fraudsters and hackers in 2023. Although this figure represents a 51% decrease from the $4 billion in losses reported in 2022, the digital asset ecosystem still needs improved security systems.
As of this writing, the total market capitalization of cryptocurrencies is $1.64 trillion, up 1.88% over the past week. The market leader’s Bitcoin is currently trading at 42,767, down 0.17% over the past hour. 09.
Total crypto market cap valued at $1.64 trillion on daily chart | Source: TOTAL chart on Tradingview.com
Featured image from TIME, chart from Tradingview