.png)
Railgun Blocks Inferno Drainer’s $530K ETH Laundering Attempt
The post Railgun Blocks Inferno Drainer’s $530K ETH Laundering Attempt appeared on BitcoinEthereumNews.com. Coinspeaker Railgun Blocks Inferno Drainer’s $530K ETH Laundering Attempt Crypto privacy protocol Railgun successfully thwarted an attempt by the notorious wallet-draining group Inferno Drainer to launder $530,000 worth of stolen ETH. On July 10, cryptocurrency tracker MistTrack reported that a laundering attempt involving 174 Ether (ETH) was blocked by Railgun, forcing the funds back to Inferno Drainer’s original wallet. Railgun’s Privacy and Security Measures Railgun is an on-chain privacy protocol that uses zero-knowledge succinct non-interactive arguments of knowledge (zk-SNARKs) to protect users’ privacy without compromising their security. Railgun implements privacy pools to ensure that users can maintain their anonymity while participating in the network. Railgun proactively blacklisted the address associated with Inferno Drainers, preventing the laundering attempt and reinforcing the protocol’s security measures. This proactive approach was praised by the crypto community, highlighting the importance of such measures in maintaining trust and safety within the ecosystem. While other crypto mixers have been shutting down amid regulatory pressures, Railgun has seen increased adoption and support. Ethereum co-founder Vitalik Buterin has been a vocal advocate for Railgun, using the protocol to conduct multiple transactions and emphasizing its importance for maintaining privacy in the crypto space. Privacy is normal. Railgun uses the privacy pools protocol ( https://t.co/DekkatsMR5 ) which makes it much harder for bad actors to join the pool without compromising users’ privacy.https://t.co/MG0huDzpAu — vitalik.eth (@VitalikButerin) April 15, 2024 Inferno Drainer’s Tactics and Ongoing Threats Inferno Drainer has been a significant player in the crypto-draining landscape since November 2022, operating under a scam-as-a-service model. The group tricks victims into connecting their cryptocurrency wallets to malicious websites, allowing the attackers to drain funds once a transaction is authorized. Group-IB, a cybersecurity firm, has identified thousands of unique domains linked to Inferno Drainer’s phishing operations, which have targeted many crypto brands and users. Despite…
The post Railgun Blocks Inferno Drainer’s $530K ETH Laundering Attempt appeared on BitcoinEthereumNews.com.
Coinspeaker Railgun Blocks Inferno Drainer’s $530K ETH Laundering Attempt Crypto privacy protocol Railgun successfully thwarted an attempt by the notorious wallet-draining group Inferno Drainer to launder $530,000 worth of stolen ETH. On July 10, cryptocurrency tracker MistTrack reported that a laundering attempt involving 174 Ether (ETH) was blocked by Railgun, forcing the funds back to Inferno Drainer’s original wallet. Railgun’s Privacy and Security Measures Railgun is an on-chain privacy protocol that uses zero-knowledge succinct non-interactive arguments of knowledge (zk-SNARKs) to protect users’ privacy without compromising their security. Railgun implements privacy pools to ensure that users can maintain their anonymity while participating in the network. Railgun proactively blacklisted the address associated with Inferno Drainers, preventing the laundering attempt and reinforcing the protocol’s security measures. This proactive approach was praised by the crypto community, highlighting the importance of such measures in maintaining trust and safety within the ecosystem. While other crypto mixers have been shutting down amid regulatory pressures, Railgun has seen increased adoption and support. Ethereum co-founder Vitalik Buterin has been a vocal advocate for Railgun, using the protocol to conduct multiple transactions and emphasizing its importance for maintaining privacy in the crypto space. Privacy is normal. Railgun uses the privacy pools protocol ( https://t.co/DekkatsMR5 ) which makes it much harder for bad actors to join the pool without compromising users’ privacy.https://t.co/MG0huDzpAu — vitalik.eth (@VitalikButerin) April 15, 2024 Inferno Drainer’s Tactics and Ongoing Threats Inferno Drainer has been a significant player in the crypto-draining landscape since November 2022, operating under a scam-as-a-service model. The group tricks victims into connecting their cryptocurrency wallets to malicious websites, allowing the attackers to drain funds once a transaction is authorized. Group-IB, a cybersecurity firm, has identified thousands of unique domains linked to Inferno Drainer’s phishing operations, which have targeted many crypto brands and users. Despite…
What's Your Reaction?
