Crypto scammer Monkey Drainer announces their exit

Share IT

Key takeaways:

  • Monkey Drainer, a service provider  that offers “scam as a service,” declared their exit from the industry.
  • According to CertiK, Monkey Drainer’s hacking kit was used to rob digital assets valued about $13 million.

Monkey Drainer, a business that is frequently called a “scam as a service,” is getting ready to discontinue operations. The con artist warned budding hackers not to “lose themselves in the chase of easy money” and claimed that “managing large-scale cyber attacks” calls for a significant amount of dedication.

 Monkey Drainer announced on their Telegram channel that they will be closing down instantly and that all files, servers, and devices connected to the drainer will be wiped out completely.” They also stated that the drainer will not make a comeback.Crypto Scammer Monkey Drainer Announces Their Exit

Monkey Drainer has been connected to numerous large-scale frauds, one of which featured NFTs and was exposed in November of last year. The Drainer has stolen 7 Crypto Punks valued 20 ETH and 20 Otherside works totaling 520 ETH, or $800,000.

PeckShield, a cryptocurrency security company, tweeted  that the scammer would shut down the service because 200 ETH, or approximately $330,000, had been sent to Tornado Cash in the previous day. The drainer still has 840 ETH in its vault, which is equivalent to about $1.4 million.

The con artist claimed they were switching to “something bigger than ever before,” though they did not specify why they were discontinuing their activities.

According to blockchain security company CertiK, which also shared Monkey Drainer’s comment on Twitter, the cryptocurrency wallet-draining kit they offered is anticipated to take a 30% “commission” on money stolen from other people’s use of the program.

The con artist started operating in 2022 and supplied phishing tools to other bad actors. According to CertiK, the system had been used to steal digital assets valued about $13 million.

Even more, Monkey Drainer referred to a Venom Drainer Telegram account that had been launched the day before Monkey’s statement as a perfectly smooth alternative service that they had previously provided.

The market’s recent rise in forensic scrutiny may have contributed to the shutdown. Since the Lazarus Group and other cybercriminals have made the cryptocurrency market their main target, authorities have focused more on hacking involving cryptocurrencies.

Share IT
Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

Get Daily Updates

Crypto News, NFTs and Market Updates

Claim Your Free Trading Guide

Sign up for newsletter below and get your free crypto trading guide.

Can’t find what you’re looking for? Type below and hit enter!