In a way, Monkey Drainer operated as a "scam-as-a-service" outfit — helping others to orchestrate devastating thefts and taking a cut of the proceeds.
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A prolific crypto scammer that enabled other cybercriminals to operate has announced that they're "moving on to something better."
In a way, Monkey Drainer operated as a "scam-as-a-service" outfit — helping others to orchestrate devastating thefts and taking a cut of the proceeds.
A rather chilling message posted on Telegram read:
"Unfortunately, or fortunately, nothing lasts forever — operating large-scale cybercrime is something only those with the highest level of dedication should consider and I maintain the belief that all young cybercriminals should not lose themselves in the pursuit of easy money."
The post went on to recommend a rival, and concluded with the line:
"May all fellow cyber gangsters be victorious. Only you control the future."
PeckShield, which had been monitoring Monkey Drainer's wallets, revealed that 200 ETH had been transferred to Tornado Cash. A further 840 ETH was sitting in their main address.
It's highly likely that these funds will be moved through mixing services in an attempt to launder the crypto and obfuscate the next destination.
CertiK noted that an estimated $13 million had been stolen through Monkey Drainer, and that it had been in operation since late 2022.
The firm's cybersecurity researchers went on to warn that, even though this particular scammer isn't on the scene any more, the threat hasn't gone away.
"Whilst we may not see Monkey Drainers being used to scam victims, be aware that there are plenty of other vendors willing to fill the shoes. Always double-check URLs, Twitter handles, and any suspicious DMs you get."
