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Inferno Drainer says it’s shutting down after helping steal $70M in crypto

The crypto scam vendor Inferno Drainer plans to shut down after helping scammers drain more than $70 million worth of crypto from over 103,000 victims.

Inferno Drainer, one of the most widely used wallet draining services in recent memory, announced an immediate cessation of operations. The Diner team thanked everyone who worked with them, hoping to be remembered through a post on Telegram.

“The end of the craziest journey. Inferno drainer is shutting down. It has been a long ride with all of you and we’d like to thank you from heart. Unfortunately, nothing lasts forever. After +80 millions of $ drained, we decided to shut down, it’s time for us to move on. […] A big thank to everyone who has worked with us such as Drakan and every other customers, we hope you can remember us as the best drainer that has ever existed and that we succeeded in helping you in the quest of making money.”

Inferno Drainer plans to shut down

Despite the disappearance of Inferno, there are still active competing services that serve as a reminder to practice basic protection when interacting with others.

In 27 November 2023 posted in Twitter :

Inferno Drainer announces shutdown after draining over $70M from ~103K victims.

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer)27 November , 2023

On 19 May 2023, Scam Sniffer reported that approximately 5,000 individuals were targeted by the operation, resulting in a loss of nearly $6 million.

The service’s usual method of operation involved cloning project websites referenced by individuals through Telegram.

Once the targets fell into the trap, Inferno’s fraudulent phishing programs would drain the wallets and pay 80% of the amount to the collaborator.

1/ Inferno Drainer, a scam vendor specializing in multi-chain scams, has stolen $5.9 million in assets from nearly 4,888 victims through over 689 phishing websites targeting popular projects.

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) May 19, 2023

Web3 security firm Scam Sniffer indicated that Inferno Drainer had helped steal more than $70 million worth of crypto from 103,767 victims across blockchains. 

The service works by charging 20% to 30% of the amount of stolen assets in exchange for providing its wallet draining script. Blockchain security analysts estimate that Inferno Drainer has made as much as $20 million from its so-called drainer fees.

Earlier this week, rumors began to fly that one of the founders of the Blast protocol had ties to the Inferno Drainer. Loch, a blockchain portfolio analytics firm, looked into the on-chain data and concluded that the Blast founder’s address and Inferno Drainer were not actually connected.

We heard rumors that the @Blast_L2 bridge is linked to the Inferno Drainer.

Here’s what we found after analyzing the on-chain data.

One of the BLAST founders is connected to a Binance Deposit address that has connections with Inferno drainer. This is correct.

BUT that Binance…

— Loch (@loch_chain) November 26, 2023

Inferno Drainer rose in popularity after a similar service Monkey Drainer shut shop in March, saying it was “time to move on to something better.”

Although two of the most popular drainer services have now closed down, scam-as-a-service operators like Pink Drainer and Angel Drainer continue to operate and have collectively helped drain more than $12 million worth of crypto.

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