Crypto drainers as a service: What you need to know

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The story "Crypto drainers as a service: What you need to know" was covered 10 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 10h ago

Crypto drainers as a service: What you need to know - Coin Telegraph

Quick Summary:

Rugging’s Drainer: Compatible with several crypto platforms, this DaaS drainer offers comparatively low commission fees, typically ranging from 5% to 10% of the stolen proceeds. In the wake of the US Securities and Exchange Commission’s X account being compromised in January 2024, Chainalysis found a crypto drainer acting as the SEC.

Advanced DaaS tools often update scripts to evade detection from browser extensions like WalletGuard and security alerts issued by MetaMask or Trust Wallet.

Disguised as a legitimate Web3 project, a crypto drainer is usually promoted via compromised social media accounts or Discord groups.