The wallet drainer scam entices users to fake websites, where they are prompted to connect their crypto wallets, ultimately leading to the depletion of all funds.

A significant phishing campaign targeting Etherscan users has been identified, with numerous advertisements on the Ethereum blockchain explorer implicated in the scheme. McBiblets, a member of the X community, raised the alarm on April 8 after identifying certain Etherscan ads as potential wallet drainers, cautioning against clicking on them to avoid redirection to phishing sites.

Further investigation revealed that these phishing ads, spotted on Etherscan, were also featured on various established phishing websites. Building on McBiblets' discovery, the Web3 anti-scam platform Scam Sniffer uncovered that these phishing ads extended beyond Etherscan, appearing on popular search engines such as Google, Bing, and DuckDuckGo, as well as the social media platform X.

Scam Sniffer attributed the widespread phishing campaign to a lack of oversight by advertisement aggregators, notably mentioning platforms like Coinzilla and Persona, where inadequate filtering mechanisms could expose users to phishing attempts.

In the wallet drainer scam, users are enticed to fake websites and prompted to link their crypto wallets, allowing scammers to siphon funds into their personal wallet addresses without requiring user authentication or permission.

23pds, the chief information security officer of blockchain security firm SlowMist, also issued a warning regarding the phishing advertisements on Etherscan, urging users to exercise caution.

Although the notorious cyber phishing organization Angel Drainer is suspected of orchestrating the ongoing phishing attack campaign against Etherscan users, concrete evidence regarding the scammers' identity remains elusive at present.

In 2023, crypto phishing scams, including wallet drainers, resulted in losses of nearly $300 million from over 324,000 victims. Despite efforts to shut down drainers, Scam Sniffer noted that phishing gangs persist in their activities, as there appears to be no shortage of platforms willing to facilitate their illicit endeavors.