MonkeyDrainer Announces Shut Down Of ‘Scam-As-A-Service’
Over $1.4 Million In ETH Transferred In 24 Hours
According to the PeckShieldAlert scammer MonkeyDrainer, who has been running ‘scam-as-a-service’ for multiple clients, has recently announced to shut down their service. The news has surprised many in the crypto community as this service was extremely popular and had been running successfully over the past few months.
In the wake of the announcement, ~200 Ethereum (ETH) has been transferred to the privacy-focused platform Tornado Cash within the last 24 hours, while ~840 Ethereum (~$1.4M) is reported to be sitting in their main address.
Monkey Drainer, also known as ‘Max Drain,’ is an anonymous cryptocurrency fraudster who runs a sophisticated scam operation that involves luring victims with promises of quick profits and then stealing their hard-earned money. Max Drain’s team must have at least 20 workers operating within the blockchain space.
The fraudster is well-active in the cryptocurrency community, with access to some of the most sophisticated services and tools available. Their scams have netted a substantial amount of money over the years, so it has been difficult to trace them.
#PeckShieldAlert Scammer #MonkeyDrainer, who runs theft schemes for multiple clients (a sort of 'scam-as-a-service') announced to shut down their service
~200 $ETH has been transferred to Tornado Cash within the last 24 hours, while ~840 $ETH (~$1.4M) sits in their main address pic.twitter.com/1lg3KLRxhk— PeckShieldAlert (@PeckShieldAlert) March 1, 2023
MonkeyDrainer Shutting Down Service
The announcement to shut down the service came as a surprise to many in the crypto community. It is unclear why the fraudster decided to shut down their service, but it is likely due to new anti-fraud regulations implemented in the past few months. They may also be looking to fly under the radar and start anew with a different type of scam.
The announcement by PeckShield Alert scammer MonkeyDrainer to shut down their ‘scam-as-a-service’ has surprised many in the crypto community. Over $1.4M in Ethereum transfers took place in the past 24 hours, although it is unclear if this is due to their attempt to avoid prosecution or simply because they are closing up shop. It remains to see what happens next, but it is clear that this is a massive blow to the crypto community and its efforts to fight against fraud.
