More Than 4000 Solana Users Lost Money Because of “Fake Airdrop”

Over 4,000 users on Solana are reported to have lost a total of nearly 4 million USD through the Rainbow Drainer - Fake Airdrop scheme.

More Than 4000 Solana Users Lost Money Because Of “fake Airdrop”_65b9764892152.webp

More than 4000 Solana users lost money because of “Fake Airdrop”

According to the estimates by Scam Sniffer, a Web3 anti-scam entity, in December 2023, scammers earned over 4 million USD from 4,000 wallets on the Solana network.

1/ 🚨 Over $4M in assets have been stolen by sophisticated Solana wallet drainers, and nearly 4k users have fallen victim to these phishing attacks in the past month. pic.twitter.com/qyNQthr7Wk

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) January 13, 2024

The primary scam method used is called Rainbow Drainer, where a fake airdrop is organized to trick victims into verifying transactions and inadvertently granting control of their wallets to the attackers. Leveraging technology to prevent wallets from reflecting the changed balances, hackers managed to steal 2.14 million USD from 2,189 wallets using this method.

more than 4000 solana users lost money because of fake airdrop 65b9764895239

Another prevalent scam method is called Node Drainer, where scammers utilize a Christmas campaign for a phishing attack. This form of attack yielded over 2 million USD from 1,700 individuals within a two-week span during the holiday season.

Notably, Scam Sniffer reported that one attacker’s wallet stole 1 million USD, and subsequently, they swapped USDC for ETH through AllBridge.

Unlike Ethereum, where most hacks occur due to approval-related issues, on Solana, fraudulent schemes mainly involve deceiving users into making direct transfers. Although Solana supports transaction simulation, hackers are increasingly employing sophisticated tactics to circumvent regulations and make victims more susceptible to traps.

Related: BitMEX Founder Sells Solana to Acquire Ethereum

In addition to individual users’ wallets, blockchain platforms are also in the crosshairs of hackers, but this requires more complex attack techniques. According to De.Fi’s report, the crypto industry witnessed a loss of 1.95 billion USD due to scams, hacks, and security attacks in 2023.

5.0/5

(100 votes)

Latest

How To Participate In The Xterio Airdrop

Airdrops | Editor Choice

How to Participate in the Xterio Airdrop

Join the airdrop hunt for the Xterio project, which has successfully raised $55 million and is currently running the The BeFriend AI Web campaign.

How To Participate In The Hashkey Airdrop

Airdrops | Editor Choice

How to Participate in the HashKey Airdrop

Hashkey is an extensive ecosystem launching its mini app on Telegram with a "Tap to earn" program. Hashkey has successfully raised $100 million. Join the Hashkey Airdrop now!

What Is An Ai Agent Top 5 Notable Ai Agent Projects

News | AI | Editor Choice | Newbies

What is an AI Agent? Top 5 Notable AI Agent Projects

AI Agent is an emerging concept that utilizes machine learning and deep learning technologies to develop an automated bot model, assisting users in performing tasks more easily.

Binance Announces Listing Of Velodrome Finance

News | Altcoin | Editor Choice

Binance Announces Listing of Velodrome Finance

The Binance exchange has announced the listing of Velodrome Finance, a DEX on Optimism, at 14:00 (UTC) on December 14, 2024.

Eth Could Surge To $15k As Etf Inflows Hit Record Highs

News | Altcoin | Analytics | Editor Choice

ETH Could Surge to $15K as ETF Inflows Hit Record Highs

Analysts believe Ethereum could rise to $15K, with positive signals from capital flows into ETFs.