The post New Phishing Gang Is Targeting Wallets appeared on BitcoinEthereumNews.com. A new wallet-draining scheme has emerged in the crypto underground, intensifying pressure on an ecosystem already dealing with an unrelenting wave of phishing attacks. On November 9, SlowMist founder Yu Xian said his team had identified a growing cluster of victims linked to a group known as Eleven Drainer. Eleven Drainer Emergence Exposes Rising Fragility in Crypto Security Xian noted that this is a new crypto phishing-as-a-service outfit that has become increasingly active in recent weeks. Sponsored Sponsored His remarks indicate that the operators are expanding their reach and adjusting their techniques. This shift has prompted SlowMist researchers to examine whether the group has introduced more advanced exploitation methods. Tweet From SlowMist Founder Meanwhile, Eleven Drainer joins a crowded landscape of professionalized draining service providers, such as Angel and Inferno Drainer. Over the past years, the sector has flourished because it allows scammers to run large-scale malicious operations with minimal effort. These kits provide everything a fraudster needs, including cloned websites, deceptive social media accounts, smart contract scripts, and automated workflows. In exchange, operators take a percentage of the stolen funds. As a result, these malicious actors have become the backbone of modern crypto phishing campaigns. In 2024, drainers were responsible for an estimated $494 million in losses, a 67% jump from the previous year. However, despite the increasing sophistication of these groups, security specialists emphasize that user behavior remains the weakest point in most incidents. According to them, these attackers rely on hurried decisions and misleading prompts. They also employ social-engineering tactics that convince users to sign away assets without noticing the warning signs. Xian emphasized this reality, noting that there is “nothing much worth mentioning regarding defense” beyond disciplined online behavior. His guidance follows a clear logic of always avoiding unfamiliar websites, examining every wallet signature request, and refusing to… The post New Phishing Gang Is Targeting Wallets appeared on BitcoinEthereumNews.com. A new wallet-draining scheme has emerged in the crypto underground, intensifying pressure on an ecosystem already dealing with an unrelenting wave of phishing attacks. On November 9, SlowMist founder Yu Xian said his team had identified a growing cluster of victims linked to a group known as Eleven Drainer. Eleven Drainer Emergence Exposes Rising Fragility in Crypto Security Xian noted that this is a new crypto phishing-as-a-service outfit that has become increasingly active in recent weeks. Sponsored Sponsored His remarks indicate that the operators are expanding their reach and adjusting their techniques. This shift has prompted SlowMist researchers to examine whether the group has introduced more advanced exploitation methods. Tweet From SlowMist Founder Meanwhile, Eleven Drainer joins a crowded landscape of professionalized draining service providers, such as Angel and Inferno Drainer. Over the past years, the sector has flourished because it allows scammers to run large-scale malicious operations with minimal effort. These kits provide everything a fraudster needs, including cloned websites, deceptive social media accounts, smart contract scripts, and automated workflows. In exchange, operators take a percentage of the stolen funds. As a result, these malicious actors have become the backbone of modern crypto phishing campaigns. In 2024, drainers were responsible for an estimated $494 million in losses, a 67% jump from the previous year. However, despite the increasing sophistication of these groups, security specialists emphasize that user behavior remains the weakest point in most incidents. According to them, these attackers rely on hurried decisions and misleading prompts. They also employ social-engineering tactics that convince users to sign away assets without noticing the warning signs. Xian emphasized this reality, noting that there is “nothing much worth mentioning regarding defense” beyond disciplined online behavior. His guidance follows a clear logic of always avoiding unfamiliar websites, examining every wallet signature request, and refusing to…

                                                                               Federal Reserve Governor Stephen Miran argued that stablecoins’ potential multi-trillion dollar growth over the next five years will help push down interest rates.                     A growing demand for US dollar-tied crypto stablecoins could help push down the interest rate, says US Federal Reserve Governor Stephen Miran.The Donald Trump-appointed Miran told the BCVC summit in New York on Friday that the dollar-pegged crypto tokens could be “putting downward pressure” on the neutral rate, or r-star, that doesn’t stimulate or impede the economy.If the neutral rate drops, then the central bank would also react by dropping its interest rate, he said.Read more