Crypto drainers as a service: What you need to know

Crypto DaaS platforms empower scammers with turnkey tools to steal funds. These have now become a bigger threat than ransomware.

A crypto drainer is a malicious script designed to steal cryptocurrency from your wallet. Unlike regular phishing attacks that try to capture login credentials, a crypto drainer tricks you into connecting your wallets, such as MetaMask or Phantom, and unknowingly authorizing transactions that grant them access to your funds.

Disguised as a legitimate Web3 project, a crypto drainer is usually promoted via compromised social media accounts or Discord groups. Once you fall prey to the fraud, the drainer can instantly transfer assets from the wallet.

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