Tech
Pink Drainer packs its bags after attacks on 20,000 victims and $75 million cryptocurrency theft
The developers of Pink Drainer, a popular wallet draining service, have announced their retirement. The hacking group noted that it achieved its goal by stealing over $75 million in crypto attacks.
So far, nearly 20,000 people have fallen victim to Pink Drainer’s suspicious activities.
Pink Drainer announces its retirement
Blockchain investigator, ZachXBT published Pink Drainer’s announcement on the Telegram messaging platform. The malicious group declared its retirement after completing its hacking objectives.
Additionally, the hackers mentioned shutting down their infrastructure on their way out. Furthermore, they promised to securely delete and destroy all victim data in their custody.
The group stated:
“We have achieved our goal and now, according to plan, the time has come to withdraw. After this message is published, we will begin shutting down our entire infrastructure. All stored information will be securely deleted and destroyed.”
Pink Drainer first appeared in April 2023 in connection with a 156 ETH heist. After its advent, the drain service has offered a software kit that helps cyber criminals in malicious activities. With the toolkit, hackers could exploit technical vulnerabilities to drain their victims’ resources cryptographic resources.
The hacking process usually depends on social engineering and phishing tactics. The schemes use malicious phishing sites to confuse customers into accepting transactions and links that will drain their crypto and NFT Securities.
Pink Drainer belongs to a larger network of phishing-as-a-service operations, including those of Inferno Drainer and Monkey Drainer. Notably, such service operators make their profits by collecting percentages of stolen digital assets and charging fees.
Second data from blockchain security firm ScamSniffer, Pink Drainer masterminded up to $85.29 million in cryptocurrency thefts. The group has exploited more than 21,000 victims in its malicious activities over the past year.
Phishing activities and cyber attacks on cryptocurrencies are increasing
The cryptocurrency industry has seen a surge phishing activities in the last few years. Scammers resort to using wallet-draining malware to steal from their victims.
According to a ScamSniffer Report, cybercriminals have drained nearly $300 million in digital assets over the past year. The report notes that over 324,000 victims were affected during the period. It also highlighted the largest amount stolen, $24 million, from a single user.
Additionally, the blockchain security firm analyzed the trend of hacks and possible associated vulnerabilities. According to the report, nearly $7 million in cryptocurrencies were stolen on March 11 alone. Most of these thefts were caused by USDC rate fluctuations and phishing scammers impersonating Circle.
The industry also witnessed major cryptocurrency thefts prior to March 24, when the Arbitrum Discord hack occurred. Additionally, the report lists the top wallet pickers involved in the thefts and the amounts stolen. It also indicated the start dates and the number of victims they attacked.
Some of the most notable drainage services include Inferno Drainer, MS Drainer, Angel Drainer, and Monkey Drainer. Others include Pink Drainer, Venon Drainer, and Pussy Drainer.
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