The well-known cryptocurrency drain kit, Pink Drainer, announced on Telegram that it would close, after having achieved its goal of helping to steal more than US$85 million in cryptocurrencies.

Pink Drainer's cybercriminal toolset helped steal more than 9,000 participants in 2023. The security researcher behind Pink Drainer defended the service, saying: "I don't do phishing, I just code."

Pink Drainer's announcement continues a pattern in the space of cryptocurrency drains by high-profile drainers. In November 2023, Inferno Drainer closed after helping to steal US$70 million, preceded by Monkey Drainer in March 2023, which closed after helping to steal US$13 million.