Pink Drainer, the service that empties your wallet, to cease operations

The developers responsible for Pink Drainer, a notorious service that has been involved in the theft of over $75 million in assets, have made the decision to shut down their operations. In a Telegram announcement, the developers stated, “We have achieved our objective, and now it is time for us to retire, as planned.” ZachXBT, an on-chain detective, was the first to report this news.

Following the publication of their message, the developers will begin the process of winding down their infrastructure. They will ensure that all stored information is completely erased and securely destroyed.

Pink Drainer is a software package that is utilized by cybercriminals to steal cryptocurrency assets. It exploits technological vulnerabilities, primarily through social engineering techniques and phishing URLs. These scams involve the use of malicious phishing sites to trick users into authorizing transactions that drain their wallets of cryptocurrencies and NFTs.

Pink Drainer was part of a larger network of platforms that offered phishing-as-a-service. This network also included Monkey Drainer and Inferno Drainer. The developers of these services charge fees and receive a percentage of the stolen assets as payment.

According to ScamSniffer, Pink Drainer has been connected to the theft of $85 million in crypto from over 21,000 victims within the past year.

It is believed that the hackers behind Pink Drainer have been responsible for numerous high-profile attacks across various platforms. Notable incidents include those involving the Evomos, Pika Protocol, and Orbiter Finance projects. The group has also been implicated in a fraud scheme where attackers posed as crypto journalists.

In total, hackers managed to steal $2 billion in cryptocurrencies in 2023. One of the biggest cryptocurrency thefts of the year was the compromise of the Euler Finance platform, where hackers made off with nearly $200 million. Other notable attacks targeted BonqDAO, the Poloniex crypto exchange, and the Atomic Wallet crypto wallet, resulting in damages exceeding $100 million each.

For more information, please read: Etherscan users targeted in major phishing campaign through on-site ads.