• Pink Drainer misplaced 10 ETH ($30,000) to an handle poisoning rip-off, exploiting handle similarities.
• Attackers mimicked Pink Drainer’s pockets handle to deceive them into sending funds.
• The assault comes days after Pink Drainer introduced ceasing operations.

In a shocking flip of occasions, the notorious cryptocurrency wallet-draining group generally known as Pink Drainer has fallen sufferer to an handle poisoning rip-off, dropping 10 ETH value roughly $30,000.

The assault was flagged by crypto compliance platform MistTrack in an X publish on July 7.

What occurred?

Tackle poisoning scams exploit the similarity between professional pockets addresses and fraudulent ones.

On this case, attackers despatched small quantities of crypto from a pockets with an handle carefully resembling that of Pink Drainer.

The purpose was to trick Pink Drainer into inadvertently sending funds to the unsuitable handle.

MistTrack defined that scammers typically manipulate just a few characters at first or finish of the handle to make it seem much like the goal’s professional handle.

MistTrack described how scammers make use of bots to observe transactions and determine alternatives. By mimicking elements of a professional handle, they improve the probability that the sufferer will mistakenly ship funds to the fraudulent handle as an alternative of the meant one.

In Pink Drainer’s case, the delicate similarity between the pretend and legit addresses was ample to deceive the group into transferring 10 ETH.

Pink Drainer had introduced ceasing actions

The incident comes shortly after Pink Drainer’s announcement of retiring its operations, having purportedly achieved its goal of pilfering over $85 million in crypto property since July 2023, in keeping with information from Dune Analytics.

Whereas Pink Drainer has ceased its actions, the prevalence of comparable wallet-draining teams reminiscent of Angel Drainer, Pussy Drainer, and Venom Drainer underscores ongoing threats within the cryptocurrency ecosystem.

Tackle poisoning scams spotlight the significance of vigilance and adherence to safety finest practices like exercising warning when dealing with transactions by guaranteeing verification of the accuracy of recipient addresses earlier than transferring funds.