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Article: Hacking Group Pink Drainer Steals $18.7 Million in Series of Cryptocurrency Attacks Hacking Group Pink Drainer Steals $18.7 Million in Series of Cryptocurrency Attacks

Key Takeaways

The cryptocurrency hacking group Pink Drainer has been involved in a series of high-profile attacks and scams over the past few months, amassing over $18.7 million in stolen funds from 9,068 victims.

In its most recent attack, Pink Drainer stole $4.4 million in Chainlink (LINK) tokens from accounts on Ethereum. The funds were converted to Ether and quickly drained from compromised wallets.

The identity behind Pink Drainer remains unknown, but crypto analysts and blockchain security firms are tracking the group’s activity closely and warning users about potential dangers.

Pink Drainer has employed phishing attacks, exploiting compromised websites and social media accounts, to deceive victims into signing fraudulent transactions.

According to on-chain analytics firm Etherscan, Pink Drainer recently stole 275,700 LINK tokens worth around $4.4 million from two separate transactions. The funds were quickly converted to Ether and moved to intermediate addresses controlled by the group.

The Web3 Anti-Scam service Scam Sniffer reported that Pink Drainer had connected to 10 fraudulent websites in the last 24 hours, suggesting a wider phishing campaign targeting multiple victims.

Group Has Stolen Over $18 Million in Multiple Attacks

In total, crypto experts estimate that Pink Drainer has amassed over $18.7 million from at least 9,068 separate victims through multiple attacks over the past few months.

In June, the group was implicated in a scam that deceived 2,300 victims out of $3.3 million by posing as journalists conducting Know-your-customer (KYC) verification on digital asset news sites.

Many victims have accidentally accessed malicious websites via compromised Discord links and unwittingly signed fraudulent transactions, according to blockchain security firm analyses. All recent Discord-based attacks appear to be connected to Pink Drainer.

Pink Drainer also exploited the Twitter account of DeFi platform Slingshot in June, posting a fake airdrop link that drained 216 users’ accounts.

Group’s Identity Remains Unknown

The cybersecurity community, including crypto analysts and a Reddit user, has been actively investigating and discussing Pink Drainer’s attacks.

While the true identity of the Pink Drainer group or individual remains unknown, further investigations may help uncover those responsible for the string of huge cryptocurrency thefts.


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