Notorious Pink Drainer retires after hitting $85M theft milestone

Josh O"Sullivan13 hours agoNotorious Pink Drainer retires after hitting $85M theft milestonePink Drainer, infamous for aiding in crypto thefts, shut down operations after amassing over $85 million in stolen assets.2355 Total views10 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksIn a surprise Telegram announcement, Pink Drainer, a notorious crypto-wallet draining kit, declared that it would be retiring after reaching its goal of helping steal over $85 million in crypto assets.“After this message’s publication, we will begin winding down all of our infrastructure. All stored information will be wiped and securely destroyed."

Speaking to Cointelegraph, the developer behind the encrypted messaging service channel, Pink, said, “I do not wish to comment. Bye.” 

Pink then deleted the entire Telegram chat record.

CryptoSleuth ZachXBT provided a screenshot of the Pink Drainer Telegram channel’s final announcement shutting down the drainware service after over $75 million was stolen. Source: ZachXBT

PeckShieldAlert also reported on the shutdown, informing the community that Pink Drainer addresses had staked a total of up to 18.1 million Dai (DAI) into Spark, constituting around 1.35% of the total sDAI tokens.Source: PeckShieldAlert

According to Dune Analytics, over $85 million has been stolen from over 21,100 victims since July 2023.

Related: Memecoin launcher pump.fun claims ex-employee behind $1.9M exploit

The Pink Drainer Telegram channel has since rebranded to “Bonadifier.” The channel now features an image of Bonad — a drainer with a mental disability — and the message, “never forget what he took from you.”

Pink Drainer’s cybercriminal toolkit helped steal $53 million from over 9,000 “participants” in 2023. The Security researcher behind Pink Drainer defended the service, saying, “I don’t phish, I just code."

Read Cointelegraph’s crypto and artificial intelligence guide to learn more about phishing attacks and how to avoid online hacks.

The Pink Drainer announcement continues a pattern in the crypto-draining space by high-profile drainers. In November 2023,  Inferno Drainer shut down after helping steal $70 million, preceded by Monkey Drainer in March 2023, which shut down after helping steal $13 million.  

While the shutdown of drainer services offers crypto users some temporary reprieve, the existence of other drainers like Angel Drainer suggests the threat is far from over. In February, Angel Drainer stole over $400,000 from 128 crypto wallets after targeting users with a malicious Safe Vault contract.

Magazine: Bybit’s Notcoin listing debacle, China firm’s profits up 1100% after crypto buy: Asia Express# Blockchain# Cryptocurrencies# Telegram# Hackers# Scams# HacksAdd reaction