- Pink Drainer misplaced 10 ETH ($30,000) to an tackle poisoning rip-off, exploiting tackle similarities.
- Attackers mimicked Pink Drainer’s pockets tackle 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 often known as Pink Drainer has fallen sufferer to an tackle poisoning rip-off, shedding 10 ETH price 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 legit pockets addresses and fraudulent ones.
On this case, attackers despatched small quantities of crypto from a pockets with an tackle intently resembling that of Pink Drainer.
The objective was to trick Pink Drainer into inadvertently sending funds to the unsuitable tackle.
MistTrack defined that scammers usually manipulate a number of characters firstly or finish of the tackle to make it seem just like the goal’s legit tackle.
MistTrack described how scammers make use of bots to observe transactions and determine alternatives. By mimicking elements of a legit tackle, they enhance the chance that the sufferer will mistakenly ship funds to the fraudulent tackle as an alternative of the meant one.
In Pink Drainer’s case, the delicate similarity between the faux and legit addresses was enough 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 line with information from Dune Analytics.
Whereas Pink Drainer has ceased its actions, the prevalence of comparable wallet-draining teams equivalent to 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.
