The developers of one of crypto's most notorious wallet drainers are shutting down its infrastructure

The developers of Pink Drainer, a wallet drainer service linked to the theft of millions of dollars in assets, have decided to wind down its infrastructure.

“We have reached our goal and now, according to plan, it’s time to for us to retire,” the developers said in a Telegram announcement, as first noted by on-chain sleuth ZachXBT. “After this message’s publication, we will begin winding down all of our infrastructure. All stored information will be wiped and securely destroyed.”

Pink Drainer offers a software kit that cybercriminals use to steal crypto assets by exploiting technical vulnerabilities that rely heavily on social engineering tactics and distributing phishing links. Such schemes use malicious phishing sites to trick users into signing transactions that drain cryptocurrencies and NFTs from their wallets.

Pink Drainer operated within a broader network of phishing-as-a-service platforms — along with others, like Monkey Drainer and Inferno Drainer. The developers of these services collect fees and a percentage of the stolen assets as payment.

Over the past year, Pink Drainer was linked to the theft of $85 million in cryptocurrency from over 21,000 victims, ScamSniffer data shows.

In March, an email phishing scam connected to the Pink Drainer kit targeted creditors of bankrupt crypto firms — resulting in thefts worth at least $5 million.