Safe

<p>In a recent attack, the notorious <a href="https://www.cryptopolitan.com/2023-crypto-scam-reached-295m-phishing-trap/" rel="noopener noreferrer nofollow">phishing</a> group Angel Drainer managed to pilfer over $400,000 from 128 crypto wallets. Employing a new tactic, the group deployed a malicious Safe vault contract, exploiting Etherscan’s verification tool to cloak the contract’s nefarious nature. Blockchain security firm Blockaid has shed light on the incident, revealing the intricacies of the attack and its ramifications.</p>
<h2 class="wp-block-heading" id="angel-drainer-s-deceptive-tactics-net-403k-in-crypto-attack">Angel Drainer’s deceptive tactics net $403K in crypto attack</h2>
<p>Angel Drainer initiated their assault by deploying a malicious Safe Vault contract. This move swiftly ensnared 128 unsuspecting users who unwittingly signed a “Permit2” transaction, leading to the expropriation of $403,000 in funds.&nbsp;</p>
<p>Blockaid, in a <a href="https://twitter.com/blockaid_/status/1757469196236243294" rel="noopener noreferrer nofollow" target="_blank">post</a> to X on February 13th, delineated the mechanics of the attack, highlighting the utilization of Etherscan’s verification tool to lend an aura of legitimacy to the fraudulent contract.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Today our researchers discovered yet another emerging attack vector from the Angel Drainer group — this time phishing users and leading them to a single Safe Vault contract where 128 wallets have been drained of $403k+ so far. All Blockaid-protected users are safe. 🧵 <a href="https://t.co/niffQDlciG" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/niffQDlciG</a></p>— Blockaid (@blockaid_) <a href="https://twitter.com/blockaid_/status/1757469196236243294?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">February 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The sophistication of Angel Drainer’s ploy lay in its exploitation of Etherscan’s verification tool. By leveraging this feature, the group managed to provide victims with a false sense of security, masking the malicious intent behind the Safe Vault contract.&nbsp;</p>
<p>Etherscan’s automatic addition of a verification flag to legitimate contracts inadvertently facilitated the success of the phishing endeavor, amplifying the impact of the attack.</p>
<h2 class="wp-block-heading" id="minimal-impact-on-the-safe-user-base">Minimal impact on the safe user base</h2>
<p>Blockaid emphasized that the attack was not a direct assault on Safe users. Instead, Angel Drainer opted to employ the Safe Vault contract due to Etherscan’s verification flag feature, which could deceive users into believing in the contract’s legitimacy.&nbsp;</p>
<p>Despite the sizable sum pilfered and the sophisticated nature of the attack, Safe’s user base has not been broadly affected. Blockaid has promptly notified Safe of the breach and is actively collaborating to mitigate further damage.</p>

Crypto phishing group Angel Drainer siphons $403K through a deceptive smart contract

Table of Contents

Cryptopolitan_News

Other articles published on Feb 14, 2024

Why $23 Billion in Leveraged Bitcoin (BTC) Positions Won’t Cause a Price Crash

Bitcoin Price Surges to $52,000 for First Time Since December 2021

2024’s Altcoin Gems: Stellar (XLM), Cosmos (ATOM) and Pushd (PUSHD) Skyrocketing Growth Potential

FBS Celebrates 15 Years of Traders Trust with a Big Raffle

Ledger and Coinbase revolutionize the crypto buying and storage experience

SEC Won’t Approve Spot ETFs Other Than BTC, ETH: Cathie Wood

Join our free newsletter for daily crypto updates!