If you choose the link, it can allow hackers to gain complete access to a equipment.
As the link is malicious and can give access to hackers to hack your smartphone.
And you may also lose your Whatsapp account.

A Cybersecurity expert Rajshekhar Rajaharia, said,
Beware of WhatsApp Pink!!
A Virus is being spread in WhatsApp groups with an APK download link.
Dont click any link with the name of #WhatsappPink.

Complete access to your phone will be lost.
The malicious WhatsApp Pink looks similar to the main app, so it is hard to find the difference.
However, few things like parameters Menu look different.

Beware of@WhatsAppPink!!
A Virus is being spread in#WhatsAppgroups with an APK download link.
Don’t click any link with the name of WhatsApp Pink.

Complete access to your phone will be lost.
However, this is not the official update rolled out by WhatsApp.
The main problem of spreading this information is, it is easily spreading via Whatsapp groups.
Keyboard based malwares can be used to track everything you key in.
It can be used to capture and steal banking passwords.
According to Jiten Jain, the users should never install any APK or mobile app.
Until it is available on the official App Store or Google Play Store.
So, even if you receive any message of Pink Theme of Whatsapp, do not fall for it.
Also, share this message with your friends.