% 0.08
BTC Dominance:
% 0.13
Market Cap:
$2.34 T
% 0.00
Fear & Greed:
53 / 100
$ 64.250
BTC Dominance:
% 54.1
Market Cap:
$2.34 T

Pink Drainer Developers Are Shutting Down the App

Ftx Hacker

The developers of the wallet draining service called Pink Drainer have decided to shut down its infrastructure following allegations that it was involved in significant crypto theft. Pink Drainer offered a tool that allowed cybercriminals to steal crypto assets by exploiting technical and social vulnerabilities.

The developers of Pink Drainer, which has been linked to the theft of millions of dollars in assets, have decided to shut down its infrastructure. “We have achieved our goal and now it is time to retire according to our plan,” the developers said in the Telegram announcement, first spotted by on-chain researcher ZachXBT. “Upon publication of this message, we will begin shutting down our entire infrastructure. All stored information will be deleted and securely destroyed.”

Pink Drainer offered a software suite used by cybercriminals to steal crypto assets by exploiting technical vulnerabilities and relying heavily on social engineering tactics. Such schemes use malicious phishing sites to trick users into signing transactions that drain their crypto and NFTs from their wallets.

Pink Drainer operated within a large network of phishing services, along with other phishing services such as Monkey Drainer and Inferno Drainer. Developers of these services collected fees and a percentage of stolen assets as payment.

According to ScamSniffer data, Pink Drainer has been linked to the theft of $85 million worth of cryptocurrency from more than 21,000 victims in the past year. In March, an email phishing scam tied to the Pink Drainer kit targeted creditors of bankrupt crypto firms, resulting in the theft of at least $5 million.

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