The attack reportedly took place in late June when Pink Drainer mistakenly sent 10 ETH to the fraudulent address.
By Leon Okwatch
Edited by Julia Sakovich
Updated
3 mins read
Pink Drainer, a notorious group known for draining crypto wallets, recently fell victim to a scam similar to their own tactics. The group fell victim to an “address poisoning” scam, losing 10 Ether (ETH) worth approximately $30,000 to a fake wallet address.
The incident was brought to light by crypto compliance platform MistTrack on July 7 via an X post. According to MistTrack, the scammers employed “address poisoning” to dupe Pink Drainer. This involves creating a counterfeit wallet address that looks very similar to the target’s, fooling them into transferring funds to the fake account.
The attack reportedly took place in late June when Pink Drainer mistakenly sent 10 ETH to the fraudulent address. This comes as a surprising turn of events, as Pink Drainer is known for similar deceptions in the crypto world. Pink Drainer is yet to comment on the allegations.
Scamming the scammer 🤣
It seems like an address associated with the Pink Drainer fell victim to the address poisoning scam.
Pink Drainer: 0x8980ab6d185af9bcc10292d4e91ae4c0b4f14213
Real: 0xEfF0E5244d5C78Ba4DD6bc01082576280558f58A
Fake:… pic.twitter.com/1CCWTufeZv— MistTrack🕵️ (@MistTrack_io) July 7, 2024
This setback comes shortly after Pink Drainer announced their retirement on May 17, claiming they had successfully stolen over $85 million in crypto assets. In a Telegram message, they outlined plans to wind down their operations and securely delete all stored information.
After making this announcement, Pink, the group’s developer, deleted the entire Telegram chat and declined further comments. Despite their retirement claim, the Pink Drainer Telegram channel rebranded as “Bonadifier,” introducing a new figure with a message reflecting on their activities.
Pink Drainer’s closure is part of a larger trend among prominent crypto drainers. Inferno Drainer ceased operations in November 2023 after a whopping $70 million in thefts. Monkey Drainer, anotjer populad scam group, shut down in March 2023 following a $13 million heist.
Despite these closures providing temporary relief, the threat persists with groups like Angel Drainer still active. In February, Angel Drainer allegedly pilfered more than $400,000 from 128 crypto wallets using a novel tactic that exploited Etherscan’s verification tool to mask the malicious intent of a smart contract.
According to blockchain research firm TRM Labs, the first half of 2024 saw a drastic increase in cryptocurrency theft globally, with hackers stealing over $1.38 billion. This represents more than double the amount stolen in the same period last year, which stands at $657 million. The surge is driven by soaring token values making crypto services lucrative targets for cybercriminals.
One of the notable incidents this year was the $308 million Bitcoin theft from Japan’s DMM Bitcoin exchange. Meanwhile, accusations from the United Nations suggest North Korea is using cyberattacks to fund its weapons programs, although North Korea denies these claims. Heightened security measures are critical as crypto scams grow in both frequency and scale.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Leon is a seasoned blockchain writer and reporter, dedicated to uncovering the stories behind decentralized technologies. He excels in providing in-depth analysis and thought leadership in blockchain media. His reporting sparks meaningful conversations and fosters a deeper understanding of the transformative potential of blockchain.
