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Pink Drainer Hackers Caught in Fraud

The notorious hacker group Pink Drainer suffered from a crypto scam. As a result of sending funds to a fake address, it lost 10 ETH (about $30,200 at the time of writing).

The security incident, which was targeted by hackers, was brought to the attention of MistTrack platform specialists. According to them, at the end of June 2024, Pink Drainer was subjected to the so-called “poisoning attack” APA (Address Poisoning Attack) and mistakenly transferred funds to someone else’s wallet, mistaking it for its own.

“Scammers have bots that look for new transactions. Since they can’t crack the code of the entire address, they can make the first and last few characters look similar to the address being used,” MistTrack explained.

Cybercriminals count on potential victims to copy the attacker’s data instead of the original address, experts say. That’s what happened with Pink Drainer, analysts said.

It should be noted that in May 2024, the hacker group announced that it was winding down its activities. Representatives of the organization explained that they had achieved their previously set goal of stealing more than $75 million in cryptocurrency.

However, Dune Analytics has other information. According to available data, hackers stole more than $85 million, and 21,131 people became victims of the attackers.

Cybersecurity experts believe that Pink Drainer was involved in a $5 million attack on creditors of FTX and BlockFi. The hackers are also said to have stolen $4.4 million from one LINK token holder.

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Source: Cryptocurrency

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