Hacker ‘Monkey Drainer’ Steals NFTs Worth $800K

Hacker ‘Monkey Drainer’ Steals NFTs Worth $800K
  • Monkey Drainer has stolen 7 CryptoPunks and 20 Otherdeed NFTs.
  • Typically, Monkey Drainer will steal from NFTs holders by creating phishing assaults.

It was reported on November 4 by prominent blockchain security outfit PeckshieldAlert and on-chain sleuth ZachXBT that a phishing scammer using the alias Monkey Drainer has stolen 7 CryptoPunks and 20 Otherdeed NFTs.

ZachXBT, a self-proclaimed expert on 2D scams, was the first to break the incident. And he indicated that the stolen artefacts were valued at around $824,200, or 520 ETH. Moreover, this is the second theft the Monkey drainer has perpetrated in less than a week. Over the course of one day on October 25th, the exploiter stole 700 ETH, or $1 million, from multiple victims.

Hacking Spree Continues

Two of Monkey Drainer’s greatest victims lost a combined $370,000 after completing transactions on deceptive phishing sites. Furthermore, one victim lost almost $150,000 worth of BAYC, CloneX, $36,000 in USDC, and 12 other NFTs, while another victim, who had over $6.2 million in crypto at the time, lost about $220,000.

Typically, Monkey Drainer will steal from NFTs holders by creating phishing assaults that seem like legitimate cryptocurrency and NFT sites, such as Aptos and RTFKT. Moreover, the companies dealing with digital assets, meanwhile, are getting ready for Monkey Drainer. Furthermore, four addresses associated with the Hacker were recently reported by Web3 security company Chainabuse.

By tricking naive users into divulging vital information about their digital wallets and authorizing transactions, “Monkey Drainer” steals the victims’ funds.

Moreover, as far as crypto hacking goes, October has been the worst month on record. Recent data from Chainalysis indicates that crypto-related criminality caused over $718M in damages in only October. The blockchain data firm said that if current trends continue, 2022 would be the most malicious year on record.

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Popular Hacker Monkey Drainer Steals $1M Worth Crypto and NFTs

An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.