The crypto hacking group Pink Drainer has once again struck, this time executing a heist that resulted in the theft of $4.4 million in Chainlink (LINK) from a single victim. The group, notorious for its involvement in several Discord and Twitter hacks this year, has accumulated over $18 million from more than 9,000 victims.

Major Theft of Chainlink Tokens

The recent theft involved the victim being duped into signing an “Increase Approval” function, leading to the loss of 275,700 LINK, valued at approximately $4.33 million. The stolen funds were transferred in two separate transactions within a minute of the victim authorizing the transaction.

One transfer involved 68,925 LINK to a wallet identified as “PinkDrainer: Wallet 2” on Etherscan, while the other involved 206,775 LINK to a different address. Blockchain security firm Scam Sniffer confirmed the link to Pink Drainer but noted the exact method of interaction with the phishing website remained unclear. The firm also identified at least 10 scam sites associated with Pink Drainer in the last 24 hours.

List of Pink Drainer scam websites identified in the last 24 hours. Source: Scam Sniffer

Laundering of Stolen Funds

Blockchain investigator ZachXBT reported that the stolen LINK tokens were converted into Ether and are currently being laundered through an instant cryptocurrency exchange named eXch. This method aligns with Pink Drainer’s established pattern of converting stolen assets for easier movement and concealment.

Pink Drainer’s Notorious Activities

Over the past year, Pink Drainer has been implicated in various hacking incidents, including breaches of Evomos, Pika Protocol, OpenAI CTO Mira Murati, and Orbiter Finance. Additionally, the group has executed scams by impersonating crypto journalists, exploiting their credibility to conduct phishing attacks.

Growing Victim Count and Stolen Amount

In June, Scam Sniffer reported that Pink Drainer had stolen approximately $3 million from 1,932 victims. However, by December 19, Dune Analytics data indicated that the total amount stolen had escalated to $18.7 million, affecting 9,068 victims. This significant increase underscores the group’s relentless and expanding criminal activities within the crypto space.

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