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Market News

Inferno Drainer Heists $850K from Swiss Fund Prime Invest

The victim's address shows a $300K history with the Binance Deposit address Prisminvest, suggesting active engagement with various wallets.

Written By:
Ronak Kumar

Last updated: February 5, 2024 2:35 PM
Published February 5, 2024 2:35 PM
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Last updated: February 5, 2024 2:35 PM
Published February 5, 2024 2:35 PM
Inferno Drainer Heists $850K from Swiss Fund Prime Invest

On January 27th, a Swiss fund, PrismInvest, experienced an $850K LINK drainage orchestrated by Inferno Drainer, as reported by Arkham.

Over the past few years, this address has deposited almost $300K to a Binance Deposit address owned by Prisminvest, and has considerable counterparty volume with other wallets also depositing to that address.https://t.co/awOLcfouuM pic.twitter.com/Shli2WxKTz

— Arkham (@arkham) February 5, 2024

The assailant, operating as “Alchemist63,” greenlit two transactions, resulting in consecutive losses of $450K LINK each within a brief 12-second interval. 

The victim’s address, intricately tied to PrismInvest, notably shows a history of substantial deposits into a Binance address, indicating potential connections with other wallets.

The attack, facilitated by the Inferno Drainer software, inflicted a cumulative loss exceeding $1M across various crypto users. Tracking the stolen funds revealed their passage through Chainlink’s Uniswap V2 pool, leading to a significant $120K loss due to slippage.

Despite the substantial financial impact, it appears improbable that the MEV bots orchestrating the attack will entertain any refund requests. This incident underscores the vulnerabilities inherent in crypto transactions and highlights the perils associated with sophisticated cyber assaults.

Also Read: Binance Freezes $4.2M XRP Stolen in Ripple Wallet Breach

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Ronak Kumar- Crypto Journalist at The Crypto Times
By Ronak Kumar
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Ronak Kumar is a Crypto Journalist with over 3 years of experience covering blockchain, AI, finance, and emerging digital trends. With a background in Commerce (B.Com) and a Postgraduate Diploma in Management (PGDM), he combines business insight with a clear understanding of the evolving crypto space. His reporting has been featured in major publications, with his work cited by NDTV, Hindustan Times, and Outlook India on topics like Trump Memecoin, Bhutan’s crypto mining, and Barron Trump’s digital presence.

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