The emerging cryptocurrency scam gang Eleven Drainer has stolen hundreds of millions of dollars.

A new wallet-draining technique called Eleven Drainer has emerged, raising concerns in the cryptocurrency security sector, which is already under pressure from a series of phishing scams. According to Yu Xian, founder of SlowMist, this group operates under a “phishing-as-a-service” model, providing tools for criminals to carry out asset theft campaigns. The service packages include fake websites, social media accounts, smart contracts, and automated processes, in exchange for which the operating group receives a percentage of the stolen funds.

In 2024, drainer groups like Eleven, Angel, and Inferno caused losses of approximately 494 million USD, a 67% increase compared to the previous year. Despite increasingly sophisticated techniques, experts emphasize that user behavior remains the biggest vulnerability. SlowMist recommends that users avoid accessing unfamiliar sites, carefully check wallet signing requests, and not approve transactions under pressure.