{"id":78916,"date":"2024-05-17T05:17:02","date_gmt":"2024-05-17T09:17:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=78916"},"modified":"2024-05-17T05:17:43","modified_gmt":"2024-05-17T09:17:43","slug":"pink-drainer-closes-after-75m-crypto-theft-20k-victims","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/pink-drainer-closes-after-75m-crypto-theft-20k-victims\/","title":{"rendered":"Pink Drainer Closes After $75M Crypto-Theft, 20K Victims"},"content":{"rendered":"\n

Since the infamous Pink Drainer developers declared their retirement after stealing over $75 million worth of cryptocurrency assets, the crypto community<\/a> may finally have some peace.<\/p>\n\n\n\n

\"Pink<\/figure>\n\n\n\n

The creators of Pink Drainer, a wallet draining service linked to the theft of millions of dollars in assets, have announced the end of their operations. <\/p>\n\n\n\n

Pink Drainer is ceasing operations after\u00a0amassing \u00a0$75 million worth of stolen crypto funds<\/a>\u00a0and attacking close to 20,000 victims.<\/p>\n\n\n\n

Pink Drainer Shuts Down<\/h2>\n\n\n\n

“We have reached our goal, and now, according to plan, it's time for us to retire,” the developers said in a Telegram announcement, as first noted by on-chain sleuth 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.”<\/p>\n\n\n\n

According to data from ScamSniffer, Pink Drainer has been associated with the theft of $75.64 million in cryptocurrency from 19,810 victims over the past year. <\/p>\n\n\n\n

A phishing email scheme associated with the Pink Drainer kit targeted the creditors of insolvent crypto companies<\/a> earlier in March, resulting in at least $5 million in thefts.<\/p>\n\n\n\n

Through technical vulnerabilities, cybercriminals have employed Pink Drainer's software toolkit since its inception to plunder crypto assets. <\/p>\n\n\n\n

Furthermore, the implementation of the strategy was substantial in its dependence on social engineering and deception techniques. <\/p>\n\n\n\n

By using deceptive phishing websites, these schemes duped users into authorizing transactions that resulted in the depletion of their wallets containing cryptocurrencies and NFTs.<\/p>\n\n\n\n

Furthermore, Pink Drainer\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> functioned as an integral component of a broader network of phishing-as-a-service enterprises, encompassing additional platforms such as Monkey Drainer and Inferno Drainer.\u00a0<\/p>\n\n\n\n

Additionally, the proprietors of these services generated revenue by imposing charges and acquiring a portion of the stolen assets.<\/p>\n\n\n\n

Most Recent Block Tower Breach<\/h2>\n\n\n\n

A notable cryptocurrency hedge fund, BlockTower, recently encountered a substantial security lapse in which unauthorized individuals extracted some funds under its supervision. <\/p>\n\n\n\n

Due to the confidential nature of the matter, insiders who leaked the information declined to provide additional details. <\/p>\n\n\n\n

According to PitchBook, BlockTower oversees over $1.7 billion in assets.<\/p>\n\n\n\n

The hacker is evading capture, and BlockTower has not recouped the stolen funds. <\/p>\n\n\n\n

The company has, nevertheless, hired specialists in blockchain forensics to examine the larceny. <\/p>\n\n\n\n

According to Bloomberg, BlockTower also notified all critical collaborators regarding the breach. <\/p>\n\n\n\n

However, the hedge fund has not issued a formal statement regarding the situation.<\/p>\n\n\n\n

In addition, there has been a recent surge in crypto hijacking incidents on the market. <\/p>\n\n\n\n

The infamous North Korean Lazarus Group has frequently employed crypto-mixing services such as Tornado Cash to obscure their traces in these attacks. <\/p>\n\n\n\n

A scammer stole Wrapped Bitcoin (WBTC) coins valued at over $71 million just last week, only to return the stolen funds shortly thereafter. <\/p>\n","protected":false},"excerpt":{"rendered":"

Since the infamous Pink Drainer developers declared their retirement after stealing over $75 million worth of cryptocurrency assets, the crypto community may finally have some peace. The creators of Pink Drainer, a wallet draining service linked to the theft of millions of dollars in assets, have announced the end of their operations.  Pink Drainer is ceasing […]<\/p>\n","protected":false},"author":56,"featured_media":78918,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,26,11476],"tags":[19565,16148,1945,19566],"class_list":["post-78916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-cryptocurrencies","category-hacks-and-scams","tag-blocktower-capital","tag-crypto-hack-2","tag-crypto-scam","tag-wallet-drain-attacks"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/Pink-Drainer-Closes-After-75M-Crypto-Theft-20K-Victims.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=78916"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/78918"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=78916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=78916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=78916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}