Monkey Drainer on Hacking Spree, Steals Another 520 ETH Worth NFTs

Monkey Drainer has wreaked havoc yet again after stealing $800k worth of seven Crypto Punk and twenty Otherside NFTs, according to on-chain sleuth ZachXBT.

Blockchain security firm, PechShield, also confirmed that the theft was carried out by a wallet tagged as Monkey Drainer.

• The stolen funds were then transferred to the coin mixer Tornado Cash.
• ZachXBT also revealed that Monkey Drainer was recently used when both AJT and Gabriel Leydon were sim swapped. He added,

“Prior to that, he’s had other huge attacks as well.”

• The notorious scammers siphoned 700 ETH worth over $1 million just a week ago via malicious phishing sites.
• As reported earlier, One of the victims – 0x02a – lost 1 Bored Ape Yacht Club (BAYC) collection, 1 CloneX, 36,000 USDC, and 12 other non-fungible tokens (NFT) totaling around $150,000. The other victim – 0x626 – held over $6.2 million worth of crypto but ended up losing only $220k because they rejected the other transaction requests.
• Monkey Drainer is well-known for using phishing-based hacking techniques to pilfer funds from victims by creating fraudulent cryptocurrency and NFT sites.
• Unassuming users entering sensitive data about their digital wallets and signing off on transactions enables Monkey Drainer to access their funds.
• October has been the worst recorded month for crypto hacks. According to Chainalysis’ latest research, overall losses accounted for over $718 million for crypto-related crimes in October alone.
• At this rate, the blockchain data provider speculated that 2022 is likely to surpass 2021 as the biggest year for hacking on record.