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Pink Drainer Hacker Group Targets DeFi Platform Slingshot, Steals Over $3.5M

2 mins
Updated by Geraint Price
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In Brief

  • The Pink Drainer hacker group has exploited users of DeFi platform Slingshot.
  • Investors are increasingly falling victim to phishing scams, with malicious actors utilizing greed to steal funds.
  • The hacker group stole over $3.5 million in total.
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Crypto investors are increasingly becoming victims of phishing scams. Now, the Pink Drainer hacker group has exploited users of the decentralized finance (DeFi) platform Slingshot.

Investors are attracted to various crypto meme coin launches and airdrops to make quick returns. But often, malicious actors use greed to steal investors’ funds.

216 Slingshot Users Lost Funds to Pink Drainer Hacker Group

According to Weixin, over 216 users of the DeFi platform Slingshot lost their money to a phishing scam on Tuesday.

Pink Drainer conducted a phishing scam by hacking the Twitter account of Slingshot. It displayed a false link to claim airdrops and drained funds from the connected wallets.

A screenshot of phishing tweet from Slingshot
Source: Weixin

Lastly, Slingshot has now reclaimed its Twitter account and asked victims to submit tickets through its help center.

Read our detailed article on the most common crypto scams here.

Over $3.5M Stolen

Slingshot is not the only victim of the Pink Drainer hacker. On June 2, BeInCrypto reported that the hacker group took control of the Twitter account of OpenAI CTO and promoted scam tokens.

Previously they have also exploited users of Orbiter Finance, Evomos, and Pika Protocol. A Dune dashboard shows Pink Drainer stole over $3.5 million from 2,848 victims in total.

Pink Drainer hacker stole over $3.5 million.
Source: Dune

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Harsh Notariya
Harsh Notariya excels in delivering SEO-optimized crypto news under tight deadlines. Previously, as a Growth Marketer at Sporty and a Community Consultant at Totality Corp, he significantly boosted community engagement and followers. Harsh also crafted engaging content for top crypto influencer Shivam Chhuneja, blending meme references for an educational yet fun experience. His versatile skills make him a notable figure in crypto journalism.