FreeDrain Phishing Scam Drains Crypto Hobbyists’ Wallets
A sophisticated phishing scheme, comprising a network of fake websites, has been targeting web3 projects and draining cryptocurrency wallets at scale for years.
First detected by Validin as a simple network of crypto phishing websites in April 2024, it soon became apparent that the scheme may be much more sophisticated and large scale. This led the internet intelligence platform provider to collaborate with SentinelOne’s research team, SentinelLabs, to conduct further investigation.
Instead of relying on common delivery methods like phishing emails, SMS (smishing), social media posts and blog comment spam, the scheme, dubbed FreeDrain by the investigators, leveraged SEO manipulation, free-tier…
