Crypto Threats Grow as Angel Drainer Takes Control of Inferno’s Draining Tools

This handover is expected to have significant implications for the crypto-draining landscape. Wallet drainers typically provide scammers with phishing tools — such as fake social media accounts and websites — in exchange for a cut of stolen funds. In 2023 alone, these services enabled the theft of $295 million from 324,000 victims.

Yu Xian, founder of blockchain security firm SlowMist, commented on the development, noting the potential strength of the combined forces of Inferno and Angel Drainer.

“Inferno Drainer has made a lot of money and is going to quit the game? Angel Drainer actually took over its source code? A stronger combination? To be honest, the code engineering quality of these two is really good,” Xian stated.

Other security experts raised concerns, noting that Angel and Inferno had very similar code and security structures in recent months. One analyst suggested that Angel Drainer may have purchased Inferno when it originally shut down, and this recent move could be an attempt to obscure the transfer of control.

“It seems like Angel might have bought the project when Inferno shut down and mentioned a sale. From the outside, it looks like Angel is using this setup to deceive users,” the expert stated.

Meanwhile, this isn’t the first time Inferno has announced its departure from the crypto-draining market. In November 2023, the platform claimed to have ceased operations after facilitating the theft of over $80 million. However, in 2024, Inferno resurfaced, revealing that it had been operating covertly for several months.