June 18, 2024
Latest Cryptocurrency News

Pink Drainer Retires After $85 Million Crypto Heist

Pink Drainer, a notorious crypto-wallet draining kit, has announced its retirement after achieving its goal of pilfering over $85 million in cryptocurrency assets.

The announcement came via Telegram, where Pink Drainer declared the winding down of all infrastructure and the secure destruction of stored information.

“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, Telegram Announcement

Community Response and Rebranding

CryptoSleuth ZachXBT shared a screenshot of Pink Drainer’s final announcement, revealing the cessation of its drainware service after absconding with over $75 million.

Source: ZachXBT

PeckShieldAlert also confirmed the shutdown, noting that Pink Drainer addresses had staked a total of 18.1 million Dai into Spark, making up about 1.35% of the total sDAI tokens.

According to Dune Analytics, over $85 million has been stolen from more than 21,100 victims since July 2023. The Pink Drainer Telegram channel has now rebranded as “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.”

Legacy and Ongoing Threat

Despite Pink Drainer’s retirement, its impact reverberates through the crypto space. The cybercriminal toolkit was responsible for helping steal $53 million from over 9,000 “participants” in 2023. The security researcher behind Pink Drainer defended the service, stating, “I don’t phish, I just code.”

Furthermore, the closure of Pink Drainer follows a trend among high-profile drainers. Predecessors like Inferno Drainer and Monkey Drainer also ceased operations after similar exploits. Inferno Drainer shut down in November 2023 after helping steal $70 million, while Monkey Drainer closed in March 2023 after assisting in the theft of $13 million.

However, the emergence of entities like Angel Drainer underscores the persistent threat to crypto users. In February, Angel Drainer stole over $400,000 from 128 crypto wallets after targeting users with a malicious Safe Vault contract. This highlights the need for continued vigilance against malicious actors in the digital asset realm.

Image by freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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