2024

when

USDC

The post <a href="https://coinpedia.org/news/crypto-hacker-pinkdrainer-swaps-stolen-funds-worth-5-9m-through-5-addresses/">Crypto hacker “PinkDrainer” swaps Stolen Funds Worth $5.9M Through 5 Addresses</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
In the last update of his atrocious cyber theft, the scammer&nbsp; <a href="https://twitter.com/pinkdrainer_">“PinkDrainer”</a> started the process of channelling the stolen money through 5 different addresses, all this just to avoid tracking.&nbsp; The total amount of money undetected by the tracing system after the five transfers is nearly $5.9 million. The audacity of this act qualifies the threat of sophisticated cyber practitioners to the crypto world.&nbsp; 
As per the reports, the computer PinkDrainer put together a complex swap with all the digital assets to five different addresses, which subsequently addressed the large amounts of money to another wallet. 
<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">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">ALERT<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/PinkDrainer?src=hash&amp;ref_src=twsrc%5Etfw">#PinkDrainer</a> initiated the process of funneling stolen funds through 5 distinct addresses! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> Indeed, <a href="https://twitter.com/hashtag/PinkDrainer?src=hash&amp;ref_src=twsrc%5Etfw">#PinkDrainer</a> has swapped all digital assets from 5 different addresses, diverting a total of $5.9M to alternative addresses! $2M worth of 600 ETH has already been… <a href="https://t.co/X1jIht19LL">pic.twitter.com/X1jIht19LL</a>— 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Cyvers Alerts 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1787812265753796645?ref_src=twsrc%5Etfw">May 7, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Of importance, with a net of 600 ETH worth $2 million already being funnelled through Railgun, this presumed platform might have been the one PinkDrainer used to conduct illegal activities.&nbsp; 
The detection of numerous phishing cases connected with the PinkDrainer campaign signals a ferocious series of these attacks aimed at victimising unwary crypto users.&nbsp; 
The whole situation of PinkDrainer goes to the point when the mess starts to lay low on the victims again and again. One victim, identified through the address [0x32d1777d2b5f07a4f8746fb0b8ad1283cfacfe72], <a href="https://twitter.com/CyversAlerts/status/1787734529131585654">suffered a loss </a>of $271,000 worth of digital assets in a single transaction.&nbsp; 
Additionally, another victim ([0xa1b18428c2b82d14a8f66f9295bdd9a2a1f89c11] has been confronted with a serious misfortune whereby they have lost 208,000 USDC as a result of malice from PinkDrainer.&nbsp; 
The stolen USDC and WBTC tokens have been systematically swapped to ETH and stored in PinkDrainer’s address [0x7df839911cc8d738b8303a1cf94f1b9a0a6ac8c1]. The on-chain analysis provides an example which indicates the strength of a scheme mastered by this prominent crypto thief, ready for missions with obfuscation of the sources of stolen money.&nbsp; 
In light of this condition, the authorities and security experts are in the process of tracking the situation carefully.&nbsp; Crypto platforms and individuals must safeguard their users and prevent any criminal operation by being vigilant and smart in their crypto affairs.&nbsp;

Crypto hacker “PinkDrainer” swaps Stolen Funds Worth $5.9M Through 5 Addresses

CoinPedia News

Other articles published on May 8, 2024

Is the SEC Coming For “Ripple Stablecoin” Next?

Massive Giga Update for Arbitrum (ARB): Potential Catalyst for Price Surge in Crypto Market

Hedera (HBAR) Analysis: Faces An Upward Channel Pattern Breakout

Autochartist Enhances Crypto Trading with Marketo Integration: A New Era for Bitcoin (BTC) and Et...

Bim Afolami Questions UK’s Crypto Regulatory Approach, Urges Innovation-Friendly Policies

Shiba Inu (SHIB) Sees a 382% Surge in Activity: Aiming for the 45 Trillion Mark

Join our free newsletter for daily crypto updates!