Crypto Drainers: How to Protect Your Assets from New Threats in 2024
In January 2024, researchers uncovered a major scam campaign called Inferno Drainer, which caused over $80 million in losses within a year. Scammers posed as well-known crypto projects, used phishing websites, and deceived thousands of crypto owners. Although their operation ended in November 2023, similar threats remain highly relevant today.
What Are Crypto Drainers?
A crypto drainer is malicious software designed to quickly and automatically empty cryptocurrency wallets. It gains access to the victim’s wallet, identifies the most valuable assets, and instantly transfers them to attackers’ accounts.
How Does the Scheme Work?
- Creating phishing websites that imitate real crypto projects.
- Promoting them through social media (X/Twitter, Discord) with promises of airdrops or NFT mining.
- Connecting the victim’s wallet to the fake site and signing a malicious transaction.
- Instantly draining assets.
Example of a Crypto Drainer: $1 Million NFT Theft
In December 2022, an NFT collector lost 14 tokens from the Bored Ape collection. Scammers created a fake movie studio website offering to “license” his NFTs. After a month of communication and fake contracts, the victim signed a transaction, transferring his assets to the attackers for just 0.00000001 ETH.
How Modern Crypto Drainers Work
- They assess the value of assets in the wallet.
- Create automated smart contracts to withdraw funds.
- Obfuscate transactions to hide traces.
- Heavily use ads in search engines and social media to lure victims.
Victims, without checking the URL, land on fake sites and sign transactions that hand over control of their assets.
How Dangerous Are Crypto Drainers?
In 2023, over 320,000 users were affected by crypto drainers, with total losses reaching around $300 million. Individual thefts exceeded $1 million, including a single transaction that lost $24 million.
Impact on the Crypto Industry
Crypto drainers pose a significant threat:
- The value of stolen assets is growing faster than losses from ransomware attacks.
- Scammers use mixers and decentralized services to launder stolen funds.
- In 2024, thefts were also recorded in the Bitcoin Ordinals ecosystem, causing $500,000 in losses.
How to Protect Yourself from Crypto Drainers
- Use cold wallets: store large amounts in Tangem, Ledger, etc.
- Verify links: only access official sources.
- Split your assets: don’t keep everything in one wallet.
- Avoid ads: use direct URLs instead of sponsored links.
- Carefully review transactions: check all details before signing.
- Install browser extensions: such as Pocket Universe for transaction analysis.
- Secure your devices: updаte regularly, use antivirus software, VPNs, and strong security practices.
Conclusion
Crypto drainers are a real and growing threat to crypto enthusiasts. Staying vigilant and following simple security practices can help protect your assets. CrystalTrade recommends always verifying sources, avoiding suspicious offers, and using trusted tools for cryptocurrency storage.
Stay alert — and your crypto assets will remain safe!
Infographic: How Crypto Drainers Work and How to Protect Your Assets
1. Crypto Drainer Attack Flow
- Fake Website -> Social Media Promo / Ads -> Wallet Connection -> Transaction Signing -> Asset Theft
— Mimics popular crypto projects.
— Baits victims with free tokens, NFTs, or farming opportunities.
— Signed transactions give attackers control over assets.
2. Key Figures for 2025
- $300 million stolen in a year.
- 320,000+ victims worldwide.
- $24 million — the largest loss in a single transaction.
- Increasing attacks on Ethereum and Bitcoin Ordinals.
3. Most Common Theft Targets
- Ethereum DApps — 80% of cases.
- NFT Platforms — 15% of cases.
- Bitcoin Ordinals — 5% of cases.
4. Top 7 Protection Tips
- Use cold wallets for large amounts.
- Verify website addresses — avoid fakes.
- Don’t click on ads or suspicious links.
- Carefully read transactions before signing.
- Install extensions: Pocket Universe, Rabby.
- Protect your devices — antivirus, VPN.
- Split assets across multiple wallets.
5. What to Do If You Suspect an Attack
- Disconnect your wallet from the site immediately.
- Revoke permissions using Revoke.cash.
- Transfer assets to a secure wallet.
- Report the scam to the community and platforms.
Remember:
It’s easier to prevent theft than to recover stolen assets. Be cautious with every transaction and link.