Pink Drainer Tells Scammers to “Take a Step Back from the Grind”

Reading Time: 2 minutes
  • Wallet drainer Pink Drainer has advised scammers to take a break from the craft
  • The wallet drainer said this while announcing that it was exiting the space
  • Pink Drainer has helped scammers pocket over $70 million in about a year

Operators of scam-as-a-service platform Pink Drainer have advised scammers to “step back from the grind.” Pink Drainer said this while announcing that it’s winding down its operations after helping malicious actors pocket roughly $85 million in less than a year. According to the wallet drainer, malicious actors with “enough money […] to financially support” themselves should take a break from the craft and enjoy “what the world has to offer,” suggesting that they should use scamming as a stepping stone to other things in life.

$85 Million from 21,000 Victims

In a private announcement publicized by blockchain sleuth ZachXBT on Telegram, the wallet-draining service revealed that it’s retiring and apologized for not giving users a heads-up. Pink Drainer, however, said that its abrupt exit won’t cause a major disruption in the space since its users will shift to similar services “just as quickly as they” joined the wallet drainer.

Pink Drainer disclosed that it’s not planning to reactivate its services in the future, warning users to be on the lookout for impersonators. It added that user data on its servers will be “securely” discarded

According to data from Dune, Pink Drainer stole slightly above $85 million from 21,131 victims since July last year.

Tornado Cash Developer Jailed for 64 Months

Pink Drainer’s exit comes six months after a similar service, Inferno Drainer, took a similar route after helping scammers steal $70 million in 2023. Inferno Drainer majorly focused on creating phony websites of top NFT collections to lure unsuspecting users.

Pink Drainer’s abrupt retirement coincides with the sentencing of Tornado Cash’s developer Alexey Pertserv who was jailed for 64 months.

Although the scam-as-a-service platform didn’t disclose why it’s leaving for good, it may have something to do with regulators’ extending their reach in the blockchain world.