Considerable Amounts of Solana Lost in CLINKSINK Drainer Operations

[Skynet-Hosting]

Since December 2023, various groups have begun using the CLINKSINK drainer to illegally obtain funds and tokens from users of Solana (SOL) cryptocurrency. Drainers, which are malicious scripts and smart contracts, facilitate the unauthorized transfer of funds or digital assets like non-fungible tokens from victims' wallets through deceptive transactions.

These operations have seen the involvement of at least 35 affiliate IDs connected to a drainer-as-a-service (DaaS) framework that employs CLINKSINK. The operators of this DaaS provide these drainer scripts to affiliates, taking approximately 20% of the stolen funds as their share. The estimated total value of assets appropriated in these recent campaigns exceeds $900,000 USD.

In the recent CLINKSINK Drainer Operations, attackers used social media and chat platforms, including X and Discord, to distribute phishing sites with cryptocurrency themes, aiming to engage victims with the CLINKSINK drainer. These deceptive sites, imitating authentic crypto platforms like Phantom, DappRadar, and BONK, deployed various fake token airdrop baits to initiate the malicious CLINKSINK JavaScript code, leading to wallet connections and subsequent fund theft.

When individuals visit these phishing pages, they are misled into connecting their wallets to receive an alleged token airdrop. After establishing a wallet connection, they are then prompted to approve a transaction, inadvertently giving the drainer service the ability to drain their funds.

Screenshot of $PHNTM airdrop-themed phishing page

Screenshot of DappRadar-themed phishing page


Screenshot of BONK-themed phishing page


Always exercise caution and vigilance when dealing with cryptocurrency transactions. Be skeptical of unsolicited offers, especially those promising free tokens or airdrops. Verify the authenticity of websites and never share your private keys or wallet credentials. Remember, if something seems too good to be true, it probably is. Protecting your digital assets is paramount in the ever-evolving landscape of online security.

 

[Artashes]

I can see how big of an issue it can be. Thankfully I don't have a single dollar placed in any of the cryptocurrencies.

 

[SenseiSteve]

Wow! So many angles to steal, but like Artashes, I don't have any money invested in gypsocurrencies.

 

[SharedGrid]

I've invested in a few cryptocurrencies over the last few years but I'm always one to invest after taking into account the technology and the end goal of the developers. I suppose any cryptocurrency can be a victim of third parties developing draining or phishing schemes but Solana seems to be one of those cryptocurrencies where people jumped on the bandwagon and invested in it because the price was rising pretty quickly. In reality, when you look at it's technology and previous record, it's not decentralised and has some pretty major downtimes.

I'm not saying it's a bad cryptocurrency, people can make their own decision on that but if you consider a large chunk of its user base may not be as tech-savvy as others then you can see why I've heard about so many schemes targeting Solana.

My previous track record of investing isn't good either though so, maybe, I need to rethink my strategy and jump on bandwagons too!

 

[Artashes]

I've invested in a few cryptocurrencies over the last few years but I'm always one to invest after taking into account the technology and the end goal of the developers. I suppose any cryptocurrency can be a victim of third parties developing draining or phishing schemes but Solana seems to be one of those cryptocurrencies where people jumped on the bandwagon and invested in it because the price was rising pretty quickly. In reality, when you look at it's technology and previous record, it's not decentralised and has some pretty major downtimes.

That's an interesting insight and analysis.

 

[Skynet-Hosting]

Worse is with some cryptocurrencies that are created just for scamming, from some cases I know is GRIMACE and SUNDAE the author of these coins put into circulation only a small part of the available coins, after attracting investments and increasing the price he simply sold from the reserved pool a large part of the coins, thus depreciating the price and leaving participants without money. Some sources estimate the fraud at over $15 million.

 

[SharedGrid]

Worse is with some cryptocurrencies that are created just for scamming, from some cases I know is GRIMACE and SUNDAE the author of these coins put into circulation only a small part of the available coins, after attracting investments and increasing the price he simply sold from the reserved pool a large part of the coins, thus depreciating the price and leaving participants without money. Some sources estimate the fraud at over $15 million.

100% and unfortunately it gives cryptocurrencies a bad reputation and stops people from utilising the tech. There are some amazing use cases for blockchain technology, the first which comes to mind is the LTO Network and the blockchain based "GoLand Registry" where they were working with the UN to create a land registry for residents of Afghanistan; Great stuff as once that information is on the blockchain, it's there forever and can't edited so there's no quibbles on who land belongs to... unfortunately since 2021 those plans went south.

But LTO are working on some great new products within the EU due to being a blockchain with GDPR compliance.

I could go on and discuss all the Ponzi schemes which surround Crypto too, such as the recent Cosetek... which a few of my acquaintances fell for and lost out on - people never learn, listen when the money tunnel vision starts.