Created in 1982, they are one of the oldest Portuguese supporters groups; in the eighties the group enjoyed a rapid growth, but in the early nineties, a disagreement resulted in the creation of another Benfica's supporters group No Name Boys. That affected negatively the group and members plummeted to an all-time low of just 10. But as new leaders came, they helped Diabos Vermelhos recover and regain members exponentially.
In Portugal, supporters' groups are obligated to register in Conselho Nacional do Desporto (CND); Diabos Vermelhos choose not to, so "legally" they cannot be supported by the club. A similar situation occurs in No Name Boys.
On 24 January 2012, Diabos Vermelhos announced they were missing a Feirense match because of high prices asked by Feirense, with the minimum ticket set at 25€, where usually other teams are set at 10€. Diabos also protested against modern football profit-driven business, placing banners on nearby roofs. Benfica in 2010–11 asked supporters not to show in away games because of unequal prices asked to Benfica supporters.