Hackers Steal $32M from a Crypto Whale

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A blockchain security service called ScamSniffer has reported that a cryptocurrency whale lost approximately $32 million worth of tokens after engaging in a malicious transaction.

The incident involved the wallet being drained of 12,083 spWETH tokens from the decentralized finance platform Spark.

The fraudulent transaction was facilitated by the Inferno Drainer, a scam service that has previously stolen over $215 million from more than 200,000 victims by using spoofed versions of popular DeFi applications to deceive users into giving up control of their wallets.

Although the Inferno Drainer was shut down in November 2023, it resurfaced in May 2021, boasting new staff, features, and support for various blockchains and DeFi apps. The operators of the Inferno Drainer reportedly take a 20% cut of the stolen tokens.