Crypto Wallet Drainer

A wallet drainer is malicious code designed to steal cryptocurrency and NFTs by tricking users into authorizing harmful transactions. Rather than hacking wallets directly, drainers abuse legitimate blockchain authorization mechanisms by disguising dangerous approvals as routine actions like “connect,” “verify,” “claim,” or “mint.”

These sophisticated attacks have evolved into a major threat vector, with drainer-as-a-service platforms enabling widespread deployment by criminals with minimal technical expertise.

Attackers deploy phishing sites mimicking popular platforms, compromised social media accounts, and fake airdrop campaigns to prompt users to sign transactions that approve unlimited token spending permissions or NFT operator rights.

Once approved, automated scripts immediately scan the wallet for valuable assets and transfer them to attacker-controlled addresses, often routing funds through mixers and cross-chain bridges to obscure the trail. Modern drainer kits include obfuscation tools, profit-sharing models, and templates that make deployment accessible to non-technical criminals.

• Connect wallets only to verified, official Suggested URLs.
• Read transaction prompts; distrust vague “approve,” “claim,” or “upgrade” requests.
• Periodically review and revoke token/NFT approvals using reputable approval-management tools.
• Use a separate “spending” wallet with limited funds for experimentation.

The Pink Drainer operation, which stole over $75 million in 2023 before being shut down, demonstrates how organized drainer campaigns can scale across multiple platforms and social media channels.