The notorious phishing toolkit, Angel Drainer, resurfaced with a revamped version called AngelX. 

According to recent reports by blockchain security firm Blockaid, AngelX has already made a disturbing impact by deploying over 300 malicious decentralized applications (dApps) within just four days of its launch.

Upgraded Threat Capabilities

Launched on August 31, AngelX represents a significant upgrade from its predecessor. The new version has been designed to exploit newer and less secure blockchains, such as The Open Network (TON) and the Tron network.

Blockaid argues that these blockchains are perceived as less equipped to defend against phishing attacks due to their relatively nascent security tools and infrastructure.

“AngelX targets newer blockchains that are not yet fortified with robust security measures,” Blockaid told CoinTelegraph. 

This reportedly makes these networks attractive targets for phishing schemes that leverage AngelX's advanced capabilities.

Enhanced Features and Evasion Tactics

AngelX boasts an improved user experience (UX) and control panel, which enable scammers to create highly customizable and sophisticated malicious dApps. This upgraded interface facilitates the development of tailored phishing applications that can easily bypass existing security measures.

One of the most concerning features of AngelX is its high evasion rate, according to Blockaid. Many of the malicious dApps developed using AngelX have successfully evaded detection by other security tools, complicating efforts by security professionals to identify and address these threats. 

Since its launch, Blockaid has detected around 150 new scams associated with AngelX.

A Brief History of Angel Drainer

The original Angel Drainer, which was linked to over $25 million in stolen crypto assets, had reportedly ceased operations on July 16 after its developers’ identities were potentially uncovered. This shutdown was perceived as a victory in the battle against phishing scams. 

However, the reemergence of Angel Drainer in the form of AngelX has reinvigorated concerns within the crypto community.

The earlier version of Angel Drainer was notorious for draining crypto wallets by deceiving users into approving fraudulent token transactions. The toolkit's developers seemed to have ceased operations after facing mounting scrutiny and user complaints about malfunctions.

The resurgence of Angel Drainer comes at a time when phishing scams are surging. According to data from ScamSniffer, August saw nearly $63 million lost to phishing attacks, a 215% increase from the previous month.