PINK DRAINER BECOMES LEADING SDAI HOLDER WITH 12M DAI STAKED IN SPARK

The infamous cybercrime group Pink Drainer has now invested 12 million DAI into Spark.

Known for their disruptive activities in the DeFi space, Pink Drainer has now been identified by PeckShield as having deposited a significant 12 million DAI into Spark, a DeFi lending protocol. This move positions them as holding approximately 1.194% of all sDAI tokens in circulation, making Pink Drainer one of the protocol’s major stakeholders.

Significant sDAI Stake by Pink Drainer

According to the latest findings from blockchain analytics firm PeckShield, Pink Drainer’s involvement in the DeFi ecosystem is extensive, with the group responsible for the theft of more than $50 million in cryptocurrencies over the last two years as a Scam-as-a-Service operation.

Supporting this, MistTrack recently reported that Pink Drainer has been utilizing MakerDao for money laundering purposes.

The group has employed elaborate phishing techniques to target significant players such as MicroStrategy, leading to the promotion of a fake Ethereum token by the compromised X account. This scheme resulted in collective losses exceeding $440,000.

Even well-known personalities, including Ethereum’s co-founder Vitalik Buterin and OpenAI’s CTO Mira Murati, have been victims of Pink Drainer’s phishing attacks.

Additionally, Pink Drainer was implicated in a heist that saw $4.4 million in Chainlink’s LINK tokens stolen from an individual after tricking them into using an “Increase Approval” function. This action facilitated the transfer of 275,700 LINK in two quick transactions following the fraudulent approval.

Rise of Crypto Wallet Drainers

The crypto landscape has seen a rise in wallet-draining entities, stepping into the gap left by the infamous Monkey Drainer, which ceased operations following exposure by on-chain detective ZachXBT

Alongside Pink Drainer, groups like Inferno Drainer, Pussy Drainer, and Venom Drainer have collectively absconded with over $295 million, highlighting the growing threat of wallet drainers in the digital asset space.

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