Pink Drainer to Shut Down Its Scam Service Infrastructure and Delete All Stored Data

Developer of Pink Drainer, a fraudulent service provider, announced its plan to dismantle its infrastructure. As per a post on the messaging platform Telegram, shared by blockchain investigator ZachXBT, the malicious entity has claimed to have accomplished its objectives and will now retire, initiating a gradual shutdown with all stored information to be securely eliminated and destroyed.

Pink Drainer issued a statement in which it highlighted impersonation attempts, clarifying that the group has no immediate intentions of resurfacing. They emphasized that any future communications purportedly from Pink Drainer, not signed by one of its wallets beginning with 0x636 or 0x9fa, should be considered unrelated to the group.

The scam service provider offers tools designed to exploit both technical and social vulnerabilities, facilitating the theft of cryptocurrencies and non-fungible tokens (NFTs) from users’ wallets. It predominantly relies on social engineering tactics and the dissemination of phishing links to deceive users into authorizing transactions.

Pink Drainer’s Crypto Theft Exceeds $85M From 21,131 Victims In 2023

Pink Drainer was part of a larger network of phishing-as-a-service platforms, which included others such as Monkey Drainer and Inferno Drainer. The developers of these platforms earn income through fees and a share of the stolen assets. According to data from Dune analytics, over the past year, the group has been associated with the theft of more than $85 million in cryptocurrency from a total of 21,131 victims.

Recently, it was reported by security expert Plumferno that the Pink Drainer toolkit was provided for the email phishing scam focused on creditors of bankrupt cryptocurrency companies like BlockFi and FTX, leading to thefts amounting to at least $5 million in cryptocurrency and NFTs. Allegedly, the hacker acquired the list of email addresses from data initially pilfered from the email service Mailer Lite, which experienced a breach in January.      

Cryptocurrency phishing attacks have become a prevalent method of cybercrime, as reported by blockchain security company Scam Sniffer, with a total of $300 million stolen through such attacks in the previous year alone, which highlights the continuous need for care and vigilance in the cryptocurrency space.

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