The infamous Pink Drainer, a cryptocurrency wallet draining device, has made a surprising declaration of ceasing its operations. The announcement came via a Telegram post after the wallet-drainer had assisted in stealing more than $85 million in digital assets. Following the announcement, all information and data linked to the service have been wiped out and securely obliterated according to the developer behind it.
The official announcement of the shutdown was revealed in a public message through the Pink Drainer’s Telegram channel. To avoid further comments or discussions, the developer of Pink Drainer, Pink, promptly erased all chat records on the platform.
Cybersecurity analyst ZachXBT shared the final announcement from Pink Drainer’s Telegram channel on Twitter. Revealing that the service would discontinue after its users had used it to steal around $75 million in cryptocurrency. Further analysis by PeckShieldAlert confirmed that Pink Drainer’s addresses had staked up to 18.1 million Dai (approximately 1.35% of the total sDAI tokens) into the decentralized money market protocol, Spark.
The cryptocurrency analytics platform, Dune Analytics, reported that Pink Drainer had managed to steal an estimated $85 million from more than 21,100 victims since its launch in July 2023. However, following this retirement announcement, the Pink Drainer has rebranded its Telegram channel to “Bonadifier”, featuring a picture of Bonad – a fictional character depicted as a thieving figure with mental disabilities.
Cybersecurity experts noted that Pink Drainer had played a role in stealing approximately $53 million from above 9,000 participants back in 2023. However, the developer behind Pink Drainer defended the service stating that he only created the software and didn’t utilize it for phishing attacks himself.
Just as Pink Drainer follows a succession of other drainware services that have shut down in recent years such as the Inferno Drainer and Monkey Drainer, there are also a number of emerging drainware threats. Specifically, Angel Drainer showcased this continuity as it drained over $400,000 from 128 user wallets earlier this year. Therefore, despite the closure of Pink Drainer, the threats by such drainware continue to exist and evolve in the crypto world.