The developers behind Pink Drainer, a notorious wallet draining service responsible for the theft of millions of dollars in crypto assets, have announced the shutdown of their infrastructure.

In a statement released on Telegram and highlighted by on-chain investigator ZachXBT, the developers declared, "We have reached our goal and now, according to plan, it’s time for us to retire. After this message’s publication, we will begin winding down all of our infrastructure. All stored information will be wiped and securely destroyed."

Pink Drainer provided a software kit used by cybercriminals to steal cryptocurrency and NFTs by exploiting technical vulnerabilities and leveraging social engineering tactics. These schemes typically involved phishing links that led users to malicious websites, tricking them into signing transactions that drained their digital wallets.

Operating as part of a larger network of phishing-as-a-service platforms, Pink Drainer collaborated with similar services like Monkey Drainer and Inferno Drainer. These platforms charged fees and took a percentage of the stolen assets as compensation.

Over the past year, Pink Drainer has been linked to the theft of $85 million in cryptocurrency from more than 21,000 victims, according to data from ScamSniffer. In one notable incident in March, an email phishing scam associated with the Pink Drainer kit targeted creditors of bankrupt crypto firms, resulting in thefts amounting to at least $5 million.

This development marks a significant step in the ongoing battle against cybercrime in the cryptocurrency space. Despite the shutdown of Pink Drainer, the prevalence of such services underscores the need for continued vigilance and enhanced security measures to protect digital assets.