A crypto drainer is a malicious script that steals cryptocurrency by deceiving users into connecting their wallets and authorizing transactions. These drainers, disguised as legitimate Web3 projects, are promoted through compromised social media accounts or Discord groups. They pose a significant threat in Web3, enabling quick theft of assets through deception. The emergence of crypto DaaS tools has commercialized these attacks, making them accessible even to low-skill scammers. These tools include phishing page templates, smart contracts, and wallet-draining scripts. In 2023, phishing campaigns using wallet drainers siphoned off over $295 million in digital assets. To protect against such attacks, users must adopt proactive security measures and utilize blockchain monitoring tools to detect suspicious activity. Swift action is crucial in the event of a DaaS attack to minimize losses and secure assets. Read more AI-generated news on: https://app.chaingpt.org/news