Monkey Drainer Retires: $50B in Crypto Lost Last Year

  • Monkey Drainer Phishing Group Retires From Crypto Scams: The notorious Monkey Drainer has announced its retirement from crypto scams and has destroyed all the tools used for their operations.
  • Effect of Monkey Drainer on Crypto Sector: Since emerging, the group had accumulated up to $13 million worth of NFTs and crypto through more than 7,300 transactions.
  • Recommended Replacement Group Venom Drainer: monkey drainer recommended its competitor Venom Drainer to young and budding cyber-gangsters for top-notch service.

Monkey Drainer Retires From Crypto Scams

Hacking is no longer new in the crypto space. The industry has seen many incidents since its inception and even recorded more during the 2022 crypto winter, especially in the DeFi Sector. Yahoo Finance said the crypto sector lost almost $50 billion last year. The full report covers all the largest crypto hacks and scams of 2022. Apart from the North Korean Lazarus group, other players, such as the notorious Monkey Drainer, have been known for perpetrating high-profile and high-value thefts in Web3. But in a recent development, the phishing scammer has announced retiring from crypto scams to move onto another sector.

Effect of Monkey Drainer on Crypto Sector

Monkey Drainer disclosed its decision to shut down operations on its Telegram channel. The group stated they would destroy all the servers, files, and devices that aid their operations immediately and won’t return to the sector. In a tweet, Blockchain security firm CertiK reported that Monkey Drainer had stolen over $1 million in ETH through their phishing scams but since emerging had accumulated up to $13 Million worth of NFTs and crypto through more than 7,300 transactions.

Recommended Replacement Group Venom Drainer

In their post before announcing retirement from cryptocurrency scams, Monkey drainer advised other upcoming cyber criminals not to lose themselves in pursuing easy money. Further they suggested that those more dedicated should operate a large cybercrime group and recommended Venom drainer as a top notch replacement service for young budding gangsters wishing them victory in their pursuit..

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