The infamous crypto wallet-draining service Inferno has handed over control of its platform to rival provider Angel Drainer.

This shift could signal a new and potentially more dangerous phase in the crypto-draining ecosystem.

On October 19, blockchain security firm Scam Sniffer reported that Inferno Drainer announced via Telegram that it had handed over its platform to the Angel Drainer team. The Inferno team expressed confidence in Angel’s ability to manage the drainer. The platform stated that Angel would maintain its code base and key features such as protocols, autoclaims, and bypasses.

“We find the Angel Drainer team competent enough to maintain the drainer (while keeping our code base and features such as 200+ protocols, autoclaims, bypasses as well as many big pending updates, new panel with logs handling and many other things) as they have shown they could be trusted,” Inferno drainer stated.

Additionally, Inferno reassured its clients that their existing data and functionality, including login credentials, statistics, and other service features, would remain unaffected.

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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.

Read more: 15 Most Common Crypto Scams To Look Out For

However, the exit seems more definitive this time. Scam Sniffer reported that the Inferno team has already transferred 2,845 ETH (around $7.5 million) from its fee collection address to other wallets. Additionally, the fee address for the drainer has been updated on-chain, suggesting a complete handover of control to another party.

The post Crypto Threats Grow as Angel Drainer Takes Control of Inferno’s Draining Tools appeared first on BeInCrypto.

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