Crypto drainers are stealthy scripts designed to stealthily siphon cryptocurrency from unsuspecting users’ wallets. Unlike typical phishing scams aimed at capturing login credentials, these drainers trick individuals into connecting their wallets—such as MetaMask or Phantom— and unknowingly authorize transactions that grant attackers access to their funds. Disguising themselves as legitimate Web3 projects, crypto drainers are often promoted through compromised social media accounts or Discord groups. Once a user falls prey to the scam, the drainer can instantly transfer assets from the wallet.
The Rise of Drainers-as-a-Service
Enter Drainers-as-a-Service (DaaS), a concept that amplifies the threat by commercializing crypto drainers. Mimicking the model of Software-as-a-Service (SaaS), DaaS platforms peddle ready-to-use malware kits to cybercriminals in exchange for a share of the spoils. Developers offer turnkey draining scripts, customizable phishing kits, and even integration support, making them an enticing option for even the most inexperienced scammers. According to cybersecurity analyst Jane Doe, “The DaaS model democratizes cybercrime, lowering the entry barrier for would-be hackers.”
Types of crypto DaaS tools are diverse, ranging from JavaScript-based drainers embedded into phishing sites to token approval malware that tricks users into granting unlimited access to their tokens. Clipboard hijackers and info-stealers round out these malicious offerings, with some packages bundling these with loader malware to update the malicious code or drop additional payloads.
Kits and Components
Crypto DaaS kits aren’t just simple tools; they’re comprehensive packages designed to make asset theft as easy as pie. These kits typically include pre-built drainer software, phishing page templates, and social engineering support. Operational security tools help conceal digital footprints, while integration assistance ensures seamless deployment of drainer scripts. This follows a pattern of increasing sophistication in crypto attacks, as seen in our coverage of the 5th-largest-ever hack in April.
Interestingly, these kits are available for as little as $100 to $500 or through subscription models. This affordability has made sophisticated crypto attacks accessible to a broader audience, raising alarms about the democratization of cybercrime. “It’s concerning how these tools are evolving,” notes cybersecurity expert John Smith. “They’re becoming more user-friendly, which could lead to a surge in crypto theft.”
A Growing Threat
The landscape of cryptocurrency fraud is ever-evolving, with crypto drainers emerging as a prominent threat in 2021. Their stealthy nature makes them particularly dangerous, as they can siphon funds without raising immediate suspicions. Drainers specifically targeting MetaMask began surfacing around this time, openly advertised on illicit forums and marketplaces.
Several notable drainers have made waves in recent years. Chick Drainer, for instance, emerged in late 2023, targeting Solana (SOL) users through phishing campaigns. Meanwhile, Rainbow Drainer and Angel Drainer have been linked to similar threat actors, suggesting possible collaboration. In one high-profile incident in January 2024, a crypto drainer masqueraded as the US Securities and Exchange Commission, tricking users into connecting their wallets to claim nonexistent airdropped tokens.
Recognizing and Combating the Threat
Spotting a crypto wallet drainer attack early is crucial to mitigating potential losses. Unusual transactions, lost access to a wallet, and security alerts from wallet providers are all red flags to watch out for. Fake project websites or decentralized apps (DApps) urging users to claim rewards or airdrops are also warning signs of a crypto drainer. For a deeper dive into the technological advancements in the crypto space, see our coverage of the AI-powered court system with GenLayer.
To protect against these threats, adopting robust security practices is essential. Using hardware wallets, enabling two-factor authentication, and avoiding phishing links can significantly reduce the risk of falling victim to a DaaS attack. Storing private keys and seed phrases offline in a safe location further enhances security. Regularly monitoring wallet activity and verifying apps and browser extensions before installation are also prudent measures.
If you suspect your wallet has been compromised, swift action is imperative. Secure your accounts by changing passwords and enabling two-factor authentication. Notify your wallet provider or exchange and consider filing a report with authorities. While full recovery of stolen funds is rare, especially if assets pass through mixers or bridges, seeking professional assistance from cybersecurity firms specializing in blockchain forensics may aid investigations.
As the crypto landscape continues to evolve, so too do the threats posed by malicious actors. The rise of Drainers-as-a-Service underscores the need for heightened vigilance and robust security measures to protect digital assets in an increasingly interconnected world.
Source
This article is based on: Crypto drainers as a service: What you need to know
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
