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HomeNews and Current EventsCrypto scam drains $59 million from 63k Twitter users in ad scheme

Crypto scam drains $59 million from 63k Twitter users in ad scheme

Google and Twitter ads actively promote websites featuring a crypto drainer known as ‘MS Drainer,’ responsible for pilfering $59 million from 63,210 victims in the past nine months. ScamSniffer’s blockchain threat analysts have identified over ten thousand phishing sites employing this drainer, with heightened activity noted in May, June, and November. This malicious tool operates as a phishing suite, luring users to seemingly legitimate websites where they unwittingly approve malicious contracts. Subsequently, the drainer executes unauthorized transactions, transferring victims’ funds to the attacker’s wallet.

The source code for MS Drainer is peddled to cybercriminals by ‘Pakulichev’ or ‘PhishLab’ for $1,500, accompanied by a 20% fee on stolen funds. Additional modules, that enhance the malware’s capabilities, are available for $500 to $1,000. MS Drainer’s Ethereum-chain victims have suffered losses ranging from $440,000 to $24 million.

Fraudulent ads on Google and Twitter

Google Search displays malicious ads for MS Drainer, exploiting keywords related to DeFi platforms. These ads manipulate Google Ads’ tracking template loophole, presenting URLs as official project domains. Clicking redirects users to phishing sites. On Twitter, MS Drainer ads, constituting six of nine phishing ads on feeds, often originate from ‘verified’ accounts with blue tick badges. Security researchers suspect these accounts may be compromised, allowing threat actors to create ads.

The Twitter ads encompass various themes, such as “Ordinals Bubbles,” promoting a limited-edition NFT collection. The ads also endorse NFT airdrops and new token launches on drainer-containing sites. Geofencing is employed to target specific regions, redirecting others to legitimate sites. With trustworthy, hacked accounts now endorsing malicious sites, users must exercise caution with cryptocurrency-related ads, conducting thorough research before engaging with new platforms or linking their wallets. Source