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Cryptocurrency Users Beware: Etherscan Ads May Drain Your Wallet

Cryptocurrency Users Beware: Etherscan Ads May Drain Your Wallet
Recently, a user on X (formerly known as Twitter) raised a red flag about the presence of potentially malicious phishing scam ads. These ads were found on Etherscan, a widely used blockchain explorer.

McBiblets cautioned that certain advertisements appearing on Etherscan could be designed to steal digital assets from unsuspecting wallets.

The Etherscan Scammer Holds Nearly $300,000 in Their Wallet

Web3 security platform Scam Sniffer swiftly responded to the warning and launched an investigation. Shortly after that, Scam Sniffer confirmed the presence of a new scam through their official X account.

“Etherscan aggregates ads from platforms like Coinzilla & Persona, where insufficient filtering could lead to exposure to phishing attempts,” Scam Sniffer explained .

Renowned on-chain detective ZachXBT delved further. He disclosed that the phishing on Etherscan is linked to a draining service. Furthermore, ZachXBT revealed that the draining service had phished a six-figure sum from a victim.

Read more: Top Cryptocurrency Scams in 2024

ZachXBT also shared the address of the theft. When BeInCrypto tried to look up the on-chain data of the wallet flagged by ZachXBT, we found that it holds 87.08 Ethereum (ETH).

This amount is equivalent to approximately $298,972 at the time of writing. Additionally, the scammer holds other tokens and coins, including $25,375 worth of OPSEC, $9,642 worth of PEPE, and $4,207 worth of Ethena (ENA).

The Phishing Scammer’s Wallet Address and Balance. Source: Etherscan

The issue of phishing scams is familiar to the digital asset space. It remains an effective tactic that frequently targets the cryptocurrency and DeFi sectors. In a prior report , Scam Sniffer highlighted that Wallet Drainers, a specific type of malware targeting cryptocurrency holders, had amassed nearly $295 million in assets from about 324,000 victims.

On March 11, 2023, a phishing scam exploited fluctuations in USDC exchange rates and stole nearly $7 million. Victims were tricked by phishing websites masquerading as the trusted Circle platform. Significant thefts also occurred near March 24 when hackers compromised Arbitrum’s Discord , coinciding with the proximity of Arbitrum’s airdrop activity.

Read more: Crypto Social Media Scams: How to Stay Safe

Scam Sniffer highlights that Inferno Drainer is the most notorious of these malware programs. It has amassed over $81 million in stolen funds from 134,000 victims since March 2023. The report mentioned that phishing scams disguised as airdrops , organic traffic, paid advertisements, or hijacked Discord links are particularly insidious due to their difficulty in detection.
The post Cryptocurrency Users Beware: Etherscan Ads May Drain Your Wallet appeared first on BeInCrypto . shares this Contents always with License.

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