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Pink Drainer Shuts Down After Stealing $85M Worth of Crypto

The wallet drainer exits the sector after scooping up over $85 million from crypto investors.

crypto hack

The developers of Pink Drainer have announced their retirement after stealing $85 million worth of crypto from unsuspecting victims.

In a private post shared on Telegram, the developers said:

“We have reached our goal and now, according to plan, it’s time for us to retire. After this message’s publication, we will begin winding down all of our infrastructure. All stored information will be wiped and securely destroyed.”

Pink Drainer Shuts Down Services 

The notorious wallet drainer added that it is entirely shutting down operations with no intentions of returning to the sector in the future.

For those unfamiliar with it, Pink Drainer is a software kit that cybercriminals use to exploit system weaknesses and steal crypto assets, including non-fungible tokens (NFTs). The drainer employs social engineering techniques to trick victims into clicking malicious links and visiting fake websites. These websites would then be used to deceive the victims into approving transactions that drain their crypto wallets. 

This drainer is part of a larger group comprising phishing-as-a-service platforms, including Monkey Drainer and Inferno Drainer. 

Over $8M Drained 

Pink Drainer has been linked to many high-profile exploits in the sector. According to a Dune Analytics Dashboard, the wallet-draining kingpin has stolen a whopping $85.2 million worth of crypto assets from around 21,131 victims over the past year. ScamSniffer noted that the platform was the culprit of crypto scams, including the one that happened to Evomos, Starknet ID, LiFi, Cherry Network, Pika Protocol, Orbiter Finance, Flare Network, and OpenAI CTO.

Dune revealed that the notorious drainer has hacked into around seven Discord servers. It added that the estimated stolen assets could even be over $85.2 million. This is because its dashboard has no price for LP tokens and other complicated cases. 

Pink Drainer’s departure is good news for the sector if they genuinely mean what they say. However, people will still have to deal with other wallet-draining tools. So, remain vigilant.

Lucky Ebosele

Lucky Ebosele is an avid writer with over two years of experience covering cryptocurrencies and blockchain tech. He is constantly researching the latest trends and developments in the space. Away from crypto, he loves everything football.