Pink Drainer, a notorious crypto wallet-draining service, is winding down its operations, according to a May 16 screenshot shared by blockchain sleuth ZachXBT.A Dune analytics dashboard by Web3 anti-scam firm Scam Sniffer showed that Pink Drainer, through its numerous fraudulent schemes, pilfered over $85 million from more than 21,000 victims in the last year alone.This closure marks yet another “scam-as-a-service” provider stepping out of the scene recently. Last year, Inferno Drainer and Monkey Drainer ceased operations due to undisclosed reasons.In the screenshot, Pink Drainer stated they have achieved their objectives and are retiring. Consequently, they intend to wind down their infrastructure and securely eliminate all stored data. The statement reads:“We are truly happy to have supported all of you for over a year without any scams, backdooring, or major incidents. This entire thing grew so much larger than we could have even imagined it would have when we had started. We apologize for the lack of prior notice about our departure, but I think most of you will understand.”The scammers cautioned users to be wary of impersonators, emphasizing that they do not plan to return in the future. It added that any future communication would be signed by one of its wallets, identified as “0x636/0x9fa”.Pink Drainer acknowledged that its retirement might not significantly disrupt the scene, as users are likely to transition to other similar services. Therefore, it encouraged financially stable users to step back from the fray and enjoy life.Meanwhile, Pink Drainer’s announcement has been met with relief within the crypto community. Yu Xian, the founder of blockchain security firm SlowMist, wrote:“The old [phishing] gang Pink Drainer announced its closure after making a total profit of $75M. It may not be that easy to ‘retire’ as there are a lot of law enforcement records. Waiting for the moment when the gang is caught.”Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Daily digest of top crypto stories and market insights. Never miss out.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
