A crypto drainer is a type of malware that tricks the user into approving a transaction which then automatically drains their cryptocurrency wallets.
Scam Sniffer revealed that one particular version, MS Drainer, was behind the new spate of attacks.
Victims are lured to phishing pages featuring the malware by clicking on Google and X ads linked to keywords from the DeFi world such as Zapper, Lido, Stargate, Defillama, Orbiter Finance and Radiant, the firm said.
Scam Sniffer said it has observed around 10,000 phishing sites since March using drainers and claimed 60% of phishing ads on X take users to malware designed to steal their virtual currency.
MS Drainer in particular has stolen $59m from 63,210 victims over the past nine months, it said.
Scam Sniffer found the drainer for sale on a dark web forum.
Unlike other similar malware that is fully managed, with developers charging a 20% fee, MS Drainer's administrators sell the source code direct to all-comers.
The security vendor urged internet users to remain cautious when interacting with online advertising and demanded the ad industry up its game.
This Cyber News was published on www.infosecurity-magazine.com. Publication date: Fri, 22 Dec 2023 09:30:16 +0000