Pink Drainer Hacker Group Shuts Down After $75 Million Theft Spree - Coinpedia Fintech News

Pink Drainer Hacker Group Shuts Down After $75 Million Theft Spree

Pink Drainer, a fraudulent service provider and hacker group, is finally shutting down, eliminating and destroying all stored information. The group claims to have achieved all its objectives and will now retire. Pink Drainer provided tools to exploit technical and social vulnerabilities, facilitating the theft of cryptocurrencies and NFTs from users’ wallets. It was part of a larger network of phishing-as-a-service platforms, which included Monkey Drainer and Inferno Drainer, earning income through fees and a share of the stolen assets. Over the past year, Pink Drainer has been linked to thefts amounting to over $75 million, targeting nearly 20,000 victims. Recently, BlockTower, a prominent crypto hedge fund, suffered a significant security breach and was robbed of some of its assets under management (AUM).