A new scam called Venom Drainer has bilked 15,000 investors out of $27 million, with the first five victims losing $14 million, according to Scam Sniffer.

Wu said that according to Scam Sniffer, a new scam called Venom Drainer has defrauded $27 million from 15,000 investors, and the first five victims lost $14 million. Its phishing methods include: obtaining the victim's approval and transferring ERC20 tokens on the blockchain; deceiving users to sign malicious NFT listings, usually with a lower listing price.