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Ethereum worth $1.17 million transferred from Monkey Drainer to eXch: PeckShield report

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On April 17, it was reported that PeckShield monitored that 551.3 pieces of Ethereum were transferred from the address (beginning with 0x8452) of Monkey Drainer, a phishing fraud g

Ethereum worth $1.17 million transferred from Monkey Drainer to eXch: PeckShield report

On April 17, it was reported that PeckShield monitored that 551.3 pieces of Ethereum were transferred from the address (beginning with 0x8452) of Monkey Drainer, a phishing fraud gang, to eXch, worth about $1.17 million.

Phishing fraud gang MonkeyDrainer transferred 551.3 Ethereum to eXch

Welcome to our article on the latest news in the world of cryptocurrency! In this article, we will discuss the latest report by PeckShield, in which they monitored a significant transfer of Ethereum from a notorious phishing fraud gang to eXch. Let us dive deeper into the details of this report and understand the implications of this transaction.

Overview of the Transaction:

On April 17, it was reported that PeckShield, a blockchain security company, monitored that 551.3 pieces of Ethereum were transferred from the address (beginning with 0x8452) of Monkey Drainer to eXch, worth about $1.17 million. This transfer is significant because Monkey Drainer is known as a phishing fraud gang that has been active on the Ethereum network for a long time.

Who is Monkey Drainer?

Monkey Drainer is a group of hackers who specialize in phishing attacks on the Ethereum network. The group started operating in 2018 and has since then conducted several successful phishing attacks on the Ethereum network. This group has a history of stealing cryptocurrencies by creating fake Ethereum addresses that look like genuine ones and tricking users into sending their Ethereum to these addresses.

How was Monkey Drainer Caught?

PeckShield, which is an AI-driven blockchain security company, has been monitoring the activities of Monkey Drainer for a long time. They were successful in identifying their network of fake addresses and tracking down the gang. Although the authorities have not yet caught the members of this group, their activities have been reduced substantially due to the efforts of companies like PeckShield.

The Role of eXch in the Transfer:

eXch, which is a popular cryptocurrency exchange, received the Ethereum transferred by Monkey Drainer. The exchange has been doing its part in ensuring the security of its platform and has proactively collaborated with PeckShield in tracking down fraudulent activities. eXch even issued a public statement saying that they were aware of the fraudulent activities of Monkey Drainer and that they would not let such activities happen on their platform.

The Implications of the Transfer:

The transfer of Ethereum by Monkey Drainer to eXch has implications for the entire cryptocurrency industry. It highlights the need for stronger security measures and the importance of being vigilant about fraudulent activities. Companies like PeckShield and eXch are leading the charge in detecting and preventing fraudulent activities on the Ethereum network.

Conclusion:

The Ethereum transfer by Monkey Drainer to eXch is a significant event that highlights the need for stronger security measures in the cryptocurrency industry. Companies like PeckShield and eXch are making strides in detecting and preventing fraudulent activities, and this is a positive development for the industry.

FAQs:

1. What is PeckShield?
PeckShield is an AI-driven blockchain security company that specializes in detecting and preventing fraudulent activities on the Ethereum network.
2. What is eXch?
eXch is a popular cryptocurrency exchange that has a reputation for being secure and trustworthy.
3. Why is the Ethereum transfer by Monkey Drainer significant?
The Ethereum transfer by Monkey Drainer is significant because it highlights the need for stronger security measures in the cryptocurrency industry and the importance of being vigilant about fraudulent activities. It also shows the success of companies like PeckShield and eXch in detecting and preventing such activities.

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