NEXO (nexo) 
Malware software-as-a-service Angel Drainer, linked to over $25 million in thefts, has reportedly shut down after its developers were potentially identified.
Angel Drainer, a drainer-as-a-service program, has allegedly suspended its operations just two hours after cybersecurity researchers at Match Systems said they were able to de-anonymize members of the malware.
Deanonymization of Angel Drainer Members! We are actively working on investigating the thefts involving Angel Drainer and have already made progress in identifying the individuals behind this group.
Who are Angel Drainer?
Angel Drainer is a criminal gang that has been involved in numerous crypto wallet thefts. Recently, Match Systems, a Dubai-based blockchain forensics firm, revealed in a post that Angel Drainer’s Telegram channel announced the suspension of services. Although it remains unclear whether Match Systems reported the bad actors to law enforcement, the firm continues to accumulate data and work towards identifying the remaining members of this criminal gang.
Angel Drainer is a JavaScript-based malware utilized by cybercriminals to drain crypto wallets. It operates by executing phishing scams that trick users into granting token approvals, enabling the scammers to siphon off their assets.
The drainer first came under the radar in late 2023 and gained popularity in early 2024. Analysts at a blockchain security firm warned that Angel Drainer had introduced a new attack vector, using a protocol to execute a novel approval farming attack through the queueWithdrawal mechanism.
In February, it was estimated that Angel Drainer stole over $25 million worth of crypto from nearly 35,000 wallets. This suggests that the malware was probably behind “high profile drains” like Ledger Connect Kit and Restake Farming attack.
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