Drain wallet, often referred to as a "crypto wallet drainer", is a type of cyber attack that targets someone's crypto wallet with the aim of draining all digital assets stored within it. How does it work? The attacker will try to trick the victim into granting access to their crypto wallet. Some common methods used include: * Phishing: Victims receive fake messages (emails, social media, etc.) masquerading as trusted entities (e.g., crypto exchanges, wallet providers). These messages usually contain links to fake websites that look identical to the original. When victims enter their sensitive information (private key, seed phrase, or authorize transactions), this information will be stolen by the attacker. * Malicious websites or applications (Malicious dApps): Victims may be directed to fake websites or decentralized applications (dApps) designed to trick them into signing harmful transactions. These transactions could give full control of the victim's wallet to the attacker or silently transfer assets. * Social Engineering: Attackers may use various psychological tactics to manipulate victims into voluntarily providing access information or taking actions that benefit the attacker. Once access or permission is obtained, attackers can: * Transfer all types of crypto assets present in the victim's wallet to their own wallet. * Sign transactions on behalf of the victim without needing further approval. It is important to understand: * Drain wallet attacks can occur very quickly after the victim grants permission or provides incorrect information. * The losses suffered by the victim can be very significant as all assets in the wallet can be lost.
* Bitcoin Whale Activity: Crypto analyst Ali indicates that whales (large holders) have sold about 50,000 Bitcoin in the last ten days, which is considered a profit-taking action. * Criticism from the Swiss Central Bank Governor: The Governor of the Swiss Central Bank expressed concerns over extreme crypto price volatility, making it unsuitable as a reserve currency. * Launch of Binance Futures Perpetual Contracts: Binance Futures will launch USDⓈ-M perpetual contracts for ASRUSDT and ALPINEUSDT with leverage up to 75x on May 6, 2025. * Figment Seeks Acquisition Opportunities: Figment, a staking services company, is reportedly actively seeking acquisition targets in the crypto sector. * Shardeum Mainnet Launched: Shardeum, a Layer-1 with autoscaling features, has launched its mainnet. * Kuwait Takes Action Against Crypto Miners: The Kuwaiti government is reportedly cracking down on crypto miners as they are considered an illegal electricity exploitation that could lead to blackouts. * Apple Eases Crypto App Rules: Apple revised its US App Store guidelines to facilitate crypto payments and NFTs within apps. * Discussion on Crypto Regulation Bill in the US: Republicans in the US House of Representatives released a discussion draft of a bill to broadly regulate the crypto industry. * Donald Trump's Sentiment Towards Crypto: Policies supporting crypto from former US President Donald Trump are expected to trigger a wave of new transactions in the sector. David Sacks, referred to as Trump's "Crypto Czar," predicts an upcoming "Trump boom." * Nigeria Recognizes Bitcoin as a Security: The Nigerian government has passed legislation recognizing Bitcoin as a security.
Latest News and Events: * There is news about Ripple's offer to acquire Circle, the issuer of the USDC stablecoin, although it has reportedly been rejected. * Whale activity (large holders of crypto assets) has been observed on several coins such as Cardano (ADA), where they continue to increase their holdings. #Ripple #ADA #USDC
hi guys, I have transferred money to the person in P2P but he not released the crypto...he also blocked my contacts number and I also appeal....so be aware....and please advise me now what can I do.? #Fraud #Aware #Help
Fraud on the stock exchange is increasing, please be careful, there is no safe internet network in this world, there are definitely loopholes and we often forget when we are given a little capital. Secure your account in layers and check it regularly, don't easily trust friends next to you, especially those you don't know