Crypto Investor Loses $4.42M to Pink Drainer’s LINK Heist

• Crypto hacking group “Pink Drainer” steals 275,700 LINK tokens, valued at $4.42 million, through a phishing attack.
• The victim clicked on a phishing link, deceived into signing an “Increase Approval” transaction.
• Pink Drainer’s year-long spree includes $18.6 million stolen from over 9,000 victims, with a record theft of $1.38 billion on July 19, 2023.

The notorious crypto hacking group known as “Pink Drainer” has left another victim in its wake, stealing a staggering $4.42 million in Chainlink (LINK). The victim, who fell prey to a sophisticated phishing attack, was drained of a total of 275,700 LINK tokens in two swift transactions.

On-chain analyst Lookonchain reported the incident, citing that the victim, whose identity remains confidential, inadvertently clicked on a phishing link. Deceived into signing an “Increase Approval” transaction, the investor watched helplessly as 275,700 LINK, valued at $4.42 million, was siphoned off by malicious actors.

The stolen assets were distributed with 68,925 LINK transferred to a wallet identified as “PinkDrainer: Wallet 2,” and the remaining 206,775 LINK sent to an address ending with “Fake_Phishing269918.

The victim, who had been accumulating LINK since June 7, 2022, managed to amass a substantial holding of 290,750 LINK tokens, equivalent to $2.26 million at an average price of $7.8. At the time of the incident, with the price of LINK hovering around $16, the value of his holdings had appreciated to an impressive $4.66 million, resulting in a profit of nearly $2.4 million.

Throughout the year, Pink Drainer has been making headlines for its involvement in a series of Discord and Twitter hacks. Data from Dune Analytics reveals that as of December 19, Pink Drainer has successfully stolen a total of $18.6 million from more than 9,000 victims. The highest stolen amount recorded was last July 19, 2023, valued at $1.38 million.