Crypto Gang 'Pink Drainer' Implicated in $4.4M Chainlink Theft
Summary:
The notorious cyber criminal collective, "Pink Drainer", has allegedly orchestrated the theft of $4.4 million in Chainlink (LINK) from an unsuspecting victim via an "Increase Approval" function. The group is reported to have targeted several other victims previously, and has also been linked to multiple Discord and Twitter hacking incidents over the past year. The recent theft was confirmed by blockchain security firm, Scam Sniffer, who also uncovered at least 10 scam sites related to Pink Drainer. The stolen funds are currently being laundered through an "instant cryptocurrency exchange", eXch.
The cyber-criminal collective, "Pink Drainer", is reportedly involved in a significant seizure of $4.4 million in Chainlink (LINK), duping a singular individual by convincing them to initiate an "Increase Approval" functionality. Indicated by blockchain records, a total of 275,700 LINK was depleted from this individual's account, equating to approximately $4.33 million, is split into two transactions materializing within 60 seconds of the "Increase Approval" function being executed. Another unfortunate party lost $4.4 million in LINK due to deceptive acts, just a mere two hours earlier.
Around 68,925 LINK was redirected towards a digital wallet tagged as "PinkDrainer: Wallet 2" on Etherscan, as a further 206,775 LINK was dispatched to a different crypto address ending "E70e". Blockchain security specialists, Scam Sniffer, validated the link between this substantial theft and Pink Drainer, although it remains a mystery as to how the victim came into contact with the hoax webpage. Scam Sniffer disclosed that they have pinpointed no less than 10 fraudulent sites linked to Pink Drainer within the last 24 hours. The firm furthermore highlighted, "This is a characteristic assault where the victim coincidentally possesses a hefty cache of assets."
ZachXBT, a blockchain sleuth, observed that the swindled funds have been exchanged for Ether (ETH) and are presently being laundered via the "instant cryptocurrency exchange", eXch. Over the past year, numerous Discord and Twitter security breaches have been traced to Pink Drainer, including those relating to Evomos, Pika Protocol, OpenAI's Chief Technology Officer, Mira Murati and Orbiter Finance. The collective is also notorious for a string of scams involving imitation of prominent crypto journalists.
Earlier this year, in June, Scam Sniffer reported Pink Drainer's theft of around $3 million from approximately 1,932 victims. Fast forward to December 19th, and that tally has escalated to nearly $18.7 million, victimizing 9,068 individuals based on Dune Analytics' data.
Published At
12/29/2023 5:27:39 AM
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