The post Crypto hacker “PinkDrainer” swaps Stolen Funds Worth $5.9M Through 5 Addresses appeared first on Coinpedia Fintech News

In the last update of his atrocious cyber theft, the scammer  “PinkDrainer” started the process of channelling the stolen money through 5 different addresses, all this just to avoid tracking.  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. 

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.

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. 

The detection of numerous phishing cases connected with the PinkDrainer campaign signals a ferocious series of these attacks aimed at victimising unwary crypto users. 

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], suffered a loss of $271,000 worth of digital assets in a single transaction. 

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. 

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. 

In light of this condition, the authorities and security experts are in the process of tracking the situation carefully.  Crypto platforms and individuals must safeguard their users and prevent any criminal operation by being vigilant and smart in their crypto affairs. 

The post Crypto hacker “PinkDrainer” swaps Stolen Funds Worth $5.9M Through 5 Addresses appeared first on Coinpedia Fintech News

In the last update of his atrocious cyber theft, the scammer  “PinkDrainer” started the process of channelling the stolen money through 5 different addresses, all this just to avoid tracking.  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. 

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.

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. 

The detection of numerous phishing cases connected with the PinkDrainer campaign signals a ferocious series of these attacks aimed at victimising unwary crypto users. 

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], suffered a loss of $271,000 worth of digital assets in a single transaction. 

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. 

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. 

In light of this condition, the authorities and security experts are in the process of tracking the situation carefully.  Crypto platforms and individuals must safeguard their users and prevent any criminal operation by being vigilant and smart in their crypto affairs.