Karma served: Pink Drainer gets hit with address poisoning scam

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jul 08 2024

Should l Buy VENOM?

Pink Drainer Scam: Pink Drainer, a group known for draining wallets, fell victim to an "address poisoning" scam, losing 10 ETH worth $30,000 to a fake wallet address.
Address Poisoning Scam: The attack involved sending small amounts of crypto from a similar-looking address to trick the target into sending funds to the wrong wallet.
Modus Operandi: Scammers use bots to find new transactions and create fake addresses with similar identifiers to deceive victims into sending funds to the wrong place.
Pink Drainer's Loss: The attackers successfully duped Pink Drainer by using an almost identical identifier in the fake wallet address, resulting in the accidental transfer of 10 ETH.
Other Drainer Toolkit Services: Despite Pink Drainer retiring after stealing $85 million in crypto assets, other services like Angel Drainer, Pussy Drainer, and Venom Drainer continue to aid malicious actors in stealing cryptocurrencies.

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Technical Analysis for VENOM

Technical Sentiment Analysis for Venom (VENOM) As of , Venom (VENOM) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 6 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for VENOM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, VENOM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Venom (VENOM) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0208	0.0244	0.0271	0.0307	0.0334	0.037	0.0397
Fibonacci	0.0244	0.0268	0.0283	0.0307	0.0331	0.0346	0.037

About VENOM

Venom is a unique Layer 0 and Layer 1 network built on Mesh network technology, enabling it to host large-scale national and international platforms, such as stablecoins, CBDCs, and RWAs (e.g., carbon credits). This is made possible by its exceptional scalability and efficiency. The technology serves as the foundation of a blockchain ecosystem ideal for Web3 dApps, aiming to develop next-generation digital infrastructure that seamlessly overlays existing Web2 systems.Venom stands out with its speed, low fees, and unmatched scalability. With a technology stack that ensures rapid finality, Venom is the preferred network for high-load systems, whether hosting CBDCs or global institutional infrastructure. Venom guarantees security and stability.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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