Crypto
Crypto scammers use ‘wallet drainer’ ploy on Google and X ads, rake in $59 mn in phishing scams: Report
In a troubling trend spanning the past year, cybercriminals have orchestrated a series of phishing scams to pilfer millions of dollars in cryptocurrency assets via deceptive ads on major platforms, including Google and X. Uncovered by cybersecurity experts at ScamSniffer, these scammers are employing a sinister tool known as ‘wallet drainers’ to carry out their nefarious schemes in phishing scams.
Disclosed in a recent blog post, ScamSniffer reveals that the initial detection of this wallet drainer occurred within Google search ad phishing, later making its way into a set of X phishing ads shared by ZachXBT. A recent examination of ads in X’s feeds showed that nearly 60 percent of phishing ads utilised this specific drainer.
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Between March and December, ScamSniffer diligently monitored 10,072 phishing websites, linking them to the theft of almost $58.98 million from more than 63,000 victims over the preceding nine months through an analysis of on-chain data associated with phishing addresses.
Understanding Wallet Drainers and Their Propagation
Wallet drainers operate by duping users into authorising malicious transactions that drain the assets from their cryptocurrency wallets. Typically, this occurs when users interact with misleading links embedded in deceptive advertisements, which are, in reality, phishing scams.
Recent examples of these phishing scams employing the wallet drainer include a cluster of deceptive X ads termed “Ordinals Bubbles” and fake links leading to popular crypto platforms such as DeFiLlama and Lido. Notably, these phishing ads have become more sophisticated, incorporating redirect tricks that mimic official and legitimate domains while ultimately leading users to phishing websites.
The blog post underscores the versatility of these wallet drainers, stating, “Phishing scammers have deployed these tactics through various channels such as phishing ads, supply chain attacks, Discord phishing, Twitter spam comments and mentions, Airdrop Phishing, SimSwap attacks, DNS attacks, email phishing, etc., continually targeting ordinary users with phishing attacks and resulting in significant asset losses.”
World’s popular digital currency rises as high as $99,073 on expectations Trump will ease legal and regulatory hurdles.
Bitcoin is nearing the $100,000 mark as crypto enthusiasts bet that United States President-elect Donald Trump will usher in a more welcoming regulatory environment for digital assets.
The world’s most popular digital currency rose as high as $99,073 on Thursday, extending its surge since Trump’s re-election on November 5.
The commodity has risen more than 60 percent since election day as investors anticipate Trump’s incoming administration to ease regulatory and legal hurdles to its use.
Trump, who called the asset a “scam” during his first term, accepted campaign donations in cryptocurrency, and has pledged to make the US “the crypto capital of the planet” and accumulate a national bitcoin reserve.
Trump and his three sons in September also announced the launch of their own crypto business, World Liberty Financial, which investors have taken as a promising sign of the president-elect’s belief in the sector.
In another bullish signal for the sector on Thursday, United States Securities and Exchange Commission (SEC) chair, Gary Gensler, who was widely disliked among crypto investors for his aggressive enforcement actions targeting the sector, confirmed that he would step down in January.
Trump had pledged to fire Gensler on “day one” of his administration, though the president does not have the authority to remove the SEC chair before the end of his or her term.
While viewed by supporters as a ticket to big returns and financial freedom, Bitcoin and other cryptocurrencies are known for their volatility and have faced government crackdowns in several parts of the world.
After climbing to a record high of $69,000 in late 2021, Bitcoin plunged to less than $16,000 over the following year.
The commodity burst past its previous peak in March after gaining more than 300 percent since November 2022.
Crypto
Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News
WisdomTree has launched a new cryptocurrency exchange-traded product (ETP), the US asset manager announced today, with a focus on the XRP digital currency.
The new WisdomTree Physical XRP (XRPW), joins the firm’s $1.1bn lineup of physically backed cryptocurrency products, designed to provide European investors with a straightforward, regulated means of investing in digital assets without direct ownership.
The XRP asset, native to the XRP Ledger (XRPL), has carved out a unique role for itself in the digital currency landscape, as a blockchain optimised for cross-border payments and high-speed transactions.
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