Phishing Software Developer Crypto Grab Registers as Legitimate UK Business
Summary:
Crypto Grab, the developer of a wallet-draining phishing software called Nova Drainer, has officially registered as a business in the UK, allowing it to gain credibility and secure Extended Validation Certificates. Crypto Grab's products are designed to steal cryptocurrency by tricking users into approving token transactions on malicious websites, with approximately 30% of the stolen funds going to the software maker. However, questions surround the legitimacy of the company's details, with UK Companies House unable to verify the information due to basic check limitations.
Crypto Grab, an online tool maker known for its scammy application, Nova Drainer, has intriguingly registered its operations as a legitimate U.K. business. Blockchain security agency CertiK reports that Crypto Grab, a developer of phishing software, is listed on Companies House, the official site of the U.K. government agency responsible for monitoring business registrations. Overcoming a common hurdle faced by deceitful feature producers, Crypto Grab suggests its business registration will provide credibility and aid in securing Extended Validation Certificates (EV SSL certificates).
Wallet drainers are notorious for exploiting Web3 protocols to rob unsuspecting individuals of cryptocurrency using methods such as luring victims onto harmful websites and deceiving them into token approvals. In 2023 alone, these forms of defrauding contributed to losses that exceeded $300 million, as per the security platform Scam Sniffer.
Nova Drainer's creator uses its Telegram group to promote its software as capable of "stealing ERC20 tokens" and "ether [ETH]". Additionally, the software is merchandised on CryptoGrab.io, the firm's official website that positions itself as "Your Gateway to Crypto Affiliate Success". A promotional "phishing" and "drainer" product video is also showcased on the site.
Crypto Grab Limited, the name on the official corporate registration, aligns with the business name found online. Furthermore, the company proudly presents its Certificate of Incorporation acquired from read.cryptograb.org as proof of authenticity.
CryptoGrab further disclosed that the registration qualifies it to receive EV SSL certificates, which serves as a verification of its trustworthiness and allows access to prominent suppliers such as Binance, StormGain, Etoro, and others.
The headquarters for Crypto Grab is cited at 100-101 Museum Street, London, England, WC1A 1PB on its Companies House registration, while Bradley Robertson is stated as its director. This information, however, has been flagged by CertiK as potential fakes. The Companies House website includes a personnel disclaimer stating it is unable to validate the authenticity of information provided, explaining its checks are basic and only ensure documentations are fully completed.
CertiK shared findings from its probe into phishing sites connected to Nova Drainer, revealing three contract addresses implicated in the scam operation, including one with an address ending in 00000. They discovered that Nova Drainer retains approximately 30% of the illegally obtained funds, dispensing the remaining sum to the perpetrator who orchestrates the phishing site. In excess of 7,000 transactions have reportedly been executed using these contracts thus far.
A Companies House representative explained that suspicions of false information could be reported through email. In response to a Freedom of Information request on March 14, the representative expressed that all complaint efforts are made in consultation with the company and its officers to confirm if an honest error has occurred or illicit operation is suspected. Due to lack of investigatory powers, Companies House can't inspect fraud allegations independently and instead forwards possible fraudulent cases to the police. Victims are also encouraged to report to the Action Fraud hotline.
Published At
2/22/2024 10:27:37 PM
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