New scam service Vanilla Drainer bilked over $5 million in three weeks

PANews reported on August 25th that according to Cointelegraph, blockchain investigation agency Darkbit discovered that a new scam service, Vanilla Drainer, stole at least $5.27 million in cryptocurrency over a three-week period. The organization assisted fraudsters in stealing funds by providing phishing software and took a 15%-20% commission.

Vanilla has been operating since October 2024, advertising its ability to bypass the security detection platform Blockaid. In the largest single theft on August 5th, victims lost $3.09 million in stablecoins, while the operator profited $463,000. The stolen funds were typically converted into ETH or the unfreezable stablecoin DAI and ultimately funneled into a dedicated fee wallet, which currently holds $2.23 million worth of tokens. Vanilla evades tracking by creating new contracts for each malicious website and frequently changing domain names.