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The resurgence of Angel Drainer comes at a time when phishing scams have significantly increased.
The notorious phishing toolkit Angel Drainer has resurfaced with a new version called AngelX, according to a recent report by blockchain security firm Blockaid.
In a troubling development, AngelX has already deployed over 300 malicious decentralized applications (dApps) within just four days of its launch.
AngelX’s Advanced Features
Launched on August 31, AngelX represents a significant upgrade from its predecessor. In a statement shared with popular cryptocurrency publication Cointelegraph, Blockaid revealed that AngelX now targets users on newer and less secure blockchains, such as The Open Network (TON) and Tron. These blockchains are seen as more vulnerable due to their relatively new security infrastructures, making them prime targets for phishing attacks.
AngelX’s improved user experience (UX) and control panel make it easier for scammers to create and deploy customized malicious dApps. This enhanced interface allows for more effective phishing schemes across a broader range of blockchains, complicating efforts to detect and mitigate these threats.
High Evasion Rate and Increased Scams
One of the most concerning aspects of AngelX is its high evasion rate. Many of the malicious dApps developed using AngelX have successfully evaded detection by other security tools, making it harder for security professionals to identify and stop these threats. Blockaid reports that they have detected around 150 new scams linked to AngelX since its launch.
Blockaid claims to have protected approximately $400,000 in assets from theft in the initial days of AngelX’s operation, thanks to the firm’s early detection efforts. This emphasizes the need for ongoing vigilance and improved security measures to combat such sophisticated phishing tactics.
Previous Shutdown of Angel Drainer
Angel Drainer’s earlier version was reportedly shut down on July 16 after its developers’ identities were potentially uncovered. This earlier version of Angel Drainer was linked to over $25 million in stolen crypto assets, and its cessation was seen as a major victory in the fight against phishing scams.
Match Systems, which had been investigating the tool for months, revealed that Angel Drainer’s Telegram channel was flooded with user complaints about malfunctions, indicating that the phishing toolkit was becoming increasingly unstable. Allegedly, the developers seemed to have ceased operations to avoid further exposure. Angel Drainer’s recent resurgence discards this belief.
🚨 Update: Angel Drainer has suspended operations! 🚨
Two hours after our publication about the de-anonymization of Angel Drainer members, their telegram channel reported that Drainer was suspended.
We continue to accumulate data and work to identify the remaining identities… pic.twitter.com/qMgKVWPyh8
— Match Systems (@MatchSystems) July 16, 2024
August Phishing Scam Surge
The resurgence of Angel Drainer comes at a time when phishing scams have significantly increased. According to data from ScamSniffer, in August, nearly $63 million was lost to phishing attacks, marking a 215% rise from the previous month. A single incident accounted for $55 million of this loss, where a user was tricked into authorizing a transaction that transferred control of a large sum of MakerDAO’s DAI to a phishing address.
The unexpected return of Angel Drainer as AngelX highlights the persistent threat of phishing scams and the continuous evolution of these malicious tools. As phishing tactics become more sophisticated, both users and security professionals must remain vigilant to protect against these evolving threats.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Leon is a seasoned blockchain writer and reporter, dedicated to uncovering the stories behind decentralized technologies. He excels in providing in-depth analysis and thought leadership in blockchain media. His reporting sparks meaningful conversations and fosters a deeper understanding of the transformative potential of blockchain.
