Monkey Drainer Continues To Nab NFTs
In today's edition of YIYL, (You Invest, You Lose) we seem to have a bit of a sequel going here, maybe this is the start of my own Marvel Cinematic Universe, I recently covered the monkey drainer drama where a good old fashioned phishing scammer would intercept people's journey to DEX or NFT platform, grab their keys and empty their wallets.
The fact that many people keep their entire crypto holdings in one hot wallet because its "easier" means there is so much at risk by signing the wrong transaction. Since the shitcoin world encourages you to take risk, stake this, provide liquidity for that, lock this and flip that, you're constantly signing transactions with different websites.
Websites can be copied or worse MIM attacked and you might think you're signing to a legit contract when in fact, you're opening up your arsehole and saying please fuck me over because I am a massive dumb shit.
Now shitcoiners will say oh don't be so harsh and to that I say infantalising people doesn't help, the reality is you are doing dumb shit and you should be punished for it, nature is healing. You can argue with me, you can police my language but you can't deny reality, and reality will come for you sooner or later.
Not your keys, Monkeys!
Despite warnings from several outlets, shitcoiners don't fucking listen and we're back at step number 1. Hilarious I know but it seems as if this scheme has not given up yet, and continues to sucker in fresh meat with the "Monkey Drainer" NFT phishing scammer striking again.
They successfully emptied 7 CryptoPunks and 20 Otherside NFTs, which they flipped for 522 ETH (~$867,000). The scammer then laundered the funds through the Tornado Cash cryptocurrency mixer.
https://twitter.com/zachxbt/status/1588375547582697472
Once you sign over your keys and the user can take your assets, its a race against time, you now need to dump that shit quickly and try to tumble those funds and then move it into an asset that isn't easily frozen, some prefer tumbled ETH others take it a step further and lock that tumbled ETH for DAI and then later default on the loan, who gives a fuck you got free money, they can keep that dirty ETH you out with your USD.
Monkey business or serious business?
So monkey drainer doesn't act on its own, they only provide access to its contact, for a 30% cut. What seems to be happening is a bunch of people try to either create fake sites, and acquire compromised accounts on Twitter and discord and send people to the monkey drainer contract.
Once they drain the funds, everyone takes their cut and moves on.
This can become a rather big problem as it makes stealing funds from shitcoiners a crowd-sourcing game, anyone can scam as long as they can get someone to sign into a monkey drainer contract.
The incentive is clearly there, why try to make money when you can now just send people to monkey drainer like you're an affiliate and secure a sweet return for shilling links.
Sources:
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They come up with a new idea everyday, really difficult to trust these sites. Anyone could scan you. Don’t trust just any site