Defi

Pika

Euler

ZachXBT

Chainlink

<div class="cryptonews">
 <p class="is-style-lead">The owner of Chainlink (LINK) tokens lost assets worth $4.4 million due to a <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> attack by a group known as Pink Drainer.</p>
 <p>According to available information from Scam Sniffer, attackers tricked the user into signing a transaction related to the IncreaseAllowance function. Immediately after this, the victim lost 275,700 LINK through two transfers.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">another victim lost $4.4 million worth of LINK to phishing scams about 2 hours ago.https://t.co/B4Z3yWrH7e https://t.co/6n6m0lZQK4 pic.twitter.com/6zSWTp8G6d</p>— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) December 29, 2023
   </blockquote>
  </div>
 </figure>
 <p>The IncreaseAllowance function allows you to determine the number of tokens the user allows another wallet to transfer from his address.</p>
 <p>Subsequently, 68,925 tokens were transferred to a crypto wallet, which Etherscan labels as “PinkDrainer: Wallet 2.” The remaining 206,775 LINK were sent to another address.</p>
 <p>Representatives of the Scam Sniffer platform confirmed that the theft of assets is related to the activities of the Pink Drainer group. However, experts could not determine exactly how the attackers forced the user to consent to transfer tokens.</p>
 <p>Crypto detective ZachXBT noted that the <a rel="noopener noreferrer nofollow" title="stole" href="https://thebittimes.com/tag/stole.html">stole</a>n funds were converted into Ethereum and passed through the eXch service.</p>
 <blockquote class="wp-block-quote">
  <p>“The <a rel="noopener noreferrer nofollow" title="stole" href="https://thebittimes.com/tag/stole.html">stole</a>n funds were sold for ETH and are currently being laundered through eXch.”</p> <cite>ZachXBT, crypto detective </cite>
 </blockquote>
 <p>Pink Drainer hackers are believed to be responsible for several high-profile attacks on various platforms. We are discussing incidents with the Evomos, Pika Protocol, and Orbiter Finance projects. The group was also involved in a scam in which attackers posed as crypto journalists. In 2023, Pink Drainer hackers stole $18.7 million from 9,068 users, according to Dune Analytics.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14232592">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/12/29/16f4e1944eb8e580a1220085b0c2d160.webp.webp">
   <img decoding="async" width="1024" height="335" src="https://cdn.thebittimes.com/images/2023/12/29/16f4e1944eb8e580a1220085b0c2d160.webp" alt="Pink Drainer hackers stole $4.4m in LINK - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Source: Dune Analytics
  </figcaption>
 </figure>
 <p>In total, <a rel="noopener noreferrer nofollow" title="hackers" href="https://thebittimes.com/tag/hackers.html">hackers</a> <a rel="noopener noreferrer nofollow" title="stole" href="https://thebittimes.com/tag/stole.html">stole</a> $2 billion worth of cryptocurrency in 2023. Among the largest cryptocurrency thefts of the year was the hack of the Euler Finance protocol. During the attack, <a rel="noopener noreferrer nofollow" title="hackers" href="https://thebittimes.com/tag/hackers.html">hackers</a> <a rel="noopener noreferrer nofollow" title="stole" href="https://thebittimes.com/tag/stole.html">stole</a> approximately $200 million. There were also attacks on BonqDAO, the Poloniex crypto exchange and the Atomic Wallet crypto wallet, each of which caused more than $100 million in damage.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Defi trends of 2023: emerging developments in decentralized finance
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pink-drainer-hackers-stole-4-4m-in-link-tbt75095.html">https://thebittimes.com/pink-drainer-hackers-stole-4-4m-in-link-tbt75095.html</a></p>

Pink Drainer hackers stole $4.4m in LINK

TheBitTimes

Other articles published on Dec 29, 2023

CryptoQuant Report: ETF Approval Could Lead to “Sell the News” Price Action for Bitcoin

Bitcoin SV (BSV) Price Soars 63% In 24 hours, Hits YTD High

Former Binance CEO Changpeng Zhao seeks privacy for travel plans amid legal battle

Bitcoin to Six Figures? The Bull Case for BTC in 2024

5 Top Crypto Influencers Make Their Bitcoin Price Predictions For 2024

A Chainlink Nightmare: Investor Duped Out Of $4.66 Million In Cunning Phishing Scam

Join our free newsletter for daily crypto updates!