Developers behind Pink Drainer, a wallet drainer service implicated in the theft of over $75 million in assets, have decided to wind down their operations.

“We have reached our goal and now, according to plan, it’s time for us to retire,” the developers announced in a Telegram message, as first reported by on-chain detective ZachXBT.

The developers added, “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 is a software kit that cybercriminals use to steal cryptocurrency assets by exploiting technological flaws, primarily through social engineering techniques and phishing URLs. These scams use malicious phishing sites to deceive users into signing transactions that deplete their wallets of cryptocurrencies and NFTs.

Pink Drainer was part of a network of phishing-as-a-service platforms, similar to Monkey Drainer and Inferno Drainer. The developers of these services charge fees and collect a percentage of the stolen assets as payment.

Pink Drainer has been linked to the theft of $85 million in crypto from more than 21,000 victims in the last year, according to ScamSniffer.

Pink Drainer hackers are thought to be responsible for multiple high-profile attacks across various platforms, including incidents related to the Evomos, Pika Protocol, and Orbiter Finance projects. The group was also implicated in a fraud where attackers posed as crypto journalists.

In total, hackers stole $2 billion in cryptocurrencies in 2023. One of the largest cryptocurrency thefts of the year was the compromise of the Euler Finance platform, where hackers stole almost $200 million. There were also attacks on BonqDAO, the Poloniex crypto exchange, and the Atomic Wallet crypto wallet, each resulting in more than $100 million in damage.

Stay updated with the latest news and developments in the cryptocurrency world on Global Crypto News.

Post Views: 8