How to fix it.
Compressor drain valve leaking.
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They usually use a high strength thread locker on the drain valves so it may just be very very hard to remove.
Product links below in order of appearance.
Drain the air tank from the drain valve.
I would recommend replacing the valve and using some thread locker when you install the new one.
Clean the regulator 4.
To fix the air leak caused by a faulty drain valve there are three choices.
Turn off and unplug the air compressor.
Besides the drain valve is relatively easy and inexpensive to fix.
Which i ve never seen done on any compressor tank.
Unloader valve is leaking air when the air compressor reaches the normal cut out pressure and stops but you notice while the air compressor is off that air is leaking out of a valve attached to or perhaps inside of the air compressor pressure switch.
After cleaning replace the parts.
Remove the regulator body from the manifold with a wrench.
Clean the regulator body air piston spring and cap with wd40.
You can try to clean out the old one.
1 unplug the compressor 2 drain all the air from the tank 3 remove the lines connected to the tank check valve 4 remove the tank check valve inspect clean re install the same one or install a new one 5 reassemble and test the compressor operation.
If the check valve is now.