The Pink Drainer, a notorious tool for siphoning cryptocurrency wallets, surprisingly announced its cessation of operations via a Telegram post. The announcement came after it had helped steal over $85 million in digital assets. Following the declaration, all associated information and data were thoroughly erased by its developer.

The shutdown announcement was made public on Pink Drainer's Telegram channel, with the developer swiftly deleting all chat records to deter further discussion. Cybersecurity analyst ZachXBT shared the announcement on Twitter, stating that the service would end operations after facilitating the theft of approximately $75 million in cryptocurrency.

PeckShieldAlert's analysis confirmed that Pink Drainer had staked up to 18.1 million Dai into the Spark decentralized money market protocol. Dune Analytics reported that since its launch in July 2023, Pink Drainer had stolen around $85 million from over 21,100 victims. The channel has now rebranded to "Bonadifier," featuring a picture of Bonad, a fictional character portrayed as a thieving figure with mental disabilities.

While Pink Drainer had a role in stealing about $53 million from over 9,000 participants in 2023, its developer claimed to have only created the software and not used it for phishing attacks personally. Despite its closure, the emergence of drainware threats like Angel Drainer, which drained over $400,000 from 128 user wallets this year, highlights the ongoing evolution of threats in the crypto world.