Crypto News – Developers of Pink Drainer Wallet Drainer Service Announce Shutdown After $85 Million Heist

Crypto News – Developers of Pink Drainer Wallet Drainer Service Announce Shutdown After $85 Million Heist

The developers behind Pink Drainer, a notorious wallet drainer service responsible for the theft of millions in assets, have announced plans to wind down their operations.

“We have reached our goal and now, as planned, it’s time for us to retire,” the developers stated in a Telegram announcement, as first reported by on-chain investigator ZachXBT. “Following the publication of this message, we will begin dismantling all of our infrastructure. All stored data will be wiped and securely destroyed.”

Pink Drainer provides a software kit that cybercriminals use to steal crypto assets by exploiting technical vulnerabilities and employing social engineering tactics to distribute phishing links. These schemes use malicious phishing sites to trick users into signing transactions that drain cryptocurrencies and NFTs from their wallets.

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

Over the past year, Pink Drainer has been linked to the theft of $85 million in cryptocurrency from over 21,000 victims, according to ScamSniffer data.

In March, an email phishing scam connected to the Pink Drainer kit targeted creditors of bankrupt crypto firms, resulting in thefts totaling at least $5 million.