Originally published on: September 05, 2024
The infamous crypto phishing toolkit, Angel Drainer, has resurfaced with an upgraded version known as AngelX. According to a recent report from blockchain security firm Blockaid, AngelX has wasted no time deploying more than 300 malicious decentralized applications (DApps) aimed at pilfering digital assets from unsuspecting crypto users.
Blockaid has raised concerns over AngelX’s advanced capabilities, particularly its enhanced phishing tactics targeting users on “newer and less secure blockchains” such as The Open Network (TON) and Tron network. These chains are seen as more vulnerable to attacks due to their lack of robust security measures.
Following its launch on August 31, AngelX has given rise to over 150 new scams, as detected by Blockaid. What’s more alarming is the system’s high evasion rate, allowing many of its malicious apps to evade detection by other security vendors in the crypto industry.
Moreover, AngelX boasts improved user experience and control panel features, making it easier for scammers to create customized scam apps across various blockchain platforms. Despite its sophistication, Blockaid’s early detection of AngelX has prevented the misappropriation of approximately $400,000 in assets within the first five days of operation.
Angel Drainer had paused its operations on July 16 due to concerns about compromised identities. Security analysts estimate that this phishing toolkit has already facilitated the theft of around $25 million worth of crypto assets through various scams.
Drainer toolkits like AngelX enable scammers to drain crypto wallets by deceiving users into unknowingly granting token approvals. In exchange for a cut of the stolen funds, scammers gain access to these tools, posing a significant threat to the crypto community.
In related news, concerns have been raised about the energy consumption of artificial intelligence surpassing that of Bitcoin, potentially impacting the future of Bitcoin mining.
