Crypto hacking group known as "Pink Drainer" has been linked to a theft amounting to $4.4 million in Chainlink (LINK) from a lone victim.
The victim was deceived into approving an "Increase Approval" function, leading to the unauthorized transfer of funds.
On-chain data reveals that the victim lost a total of 275,700 LINK, currently valued at $4.33 million, in two rapid transactions within a minute of approving the transaction.
Another victim reportedly lost $4.4 million worth of LINK to phishing scams approximately two hours prior.
The funds were distributed, with 68,925 LINK sent to a wallet labeled as "PinkDrainer: Wallet 2" on Etherscan, and the remaining 206,775 LINK directed to an address ending with "E70e."
Investigation Underway
Pink Drainer has a history of involvement in various Discord and Twitter hacks over the past year, targeting entities such as Evomos, Pika Protocol, OpenAI Chief Technology Officer Mira Murati, and Orbiter Finance.
The group has also been implicated in scams where they impersonated crypto journalists.
In a previous incident in June, Scam Sniffer reported a theft of approximately $3 million by Pink Drainer from 1,932 victims.