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Home»TRADING NEWS»Inferno Drainer suspends operations after facilitating $70 million in cryptocurrency theft.
TRADING NEWS

Inferno Drainer suspends operations after facilitating $70 million in cryptocurrency theft.

By Crypto FlexsDecember 2, 20232 Mins Read
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Inferno Drainer suspends operations after facilitating  million in cryptocurrency theft.
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Infamous wallet leak kit leaked with a total of $70 million worth of cryptocurrency stolen

Inferno Drainer, a popular service that allows phishers to steal cryptocurrencies, announced its closure in a Telegram post, marking the end of an operation that contributed to the theft of nearly $70 million worth of digital assets this year. The closure, communicated via a Telegram post, signals the end of a controversial chapter in the cryptocurrency-as-a-service fraud landscape.

Transition period for users during file and infrastructure retention

Although the Inferno Drainer team announced its withdrawal, it emphasized that it would preserve the essential files and infrastructure needed to run the wallet-draining service. The decision aims to facilitate a “seamless transition” for users looking for alternatives. The post thanked collaborators for establishing Inferno Drainer as a notable presence in its field.

Legacy of cryptocurrency theft and rival drainer services

Active since earlier this year, Inferno Drainer has gained notoriety for its role in cryptocurrency theft, with reported incidents totaling approximately $70 million from more than 100,000 victims. Despite the closure, the legacy of stolen funds remains, highlighting the devastating impact of these services. Rival drainer services, including Pink Drainer and Angel Drainer, continue to operate amid ongoing concerns about their impact on the cryptocurrency community.

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