BTC

$96937.077

2.11%

ETH

$3466.017

2.26%

XRP

$2.45

0.95%

BNB

$704.1

0.07%

News

Blockchain Bandit Attacker Moves Over 50,000 ETH After 2 Years of Silence

December 31, 2024 - Around 2 mins mins to read

Key Points:

  • Blockchain Bandit attacker moved 51,000 stolen ETH, worth $172 million, and 470 Bitcoin into a single multisignature wallet after two years of inactivity.
  • From 2016 to 2018, the attacker used Ethercombing to guess private keys, stealing nearly 45,000 ETH through cryptographic vulnerabilities.
A hacker known as “Blockchain Bandit” has struck again, consolidating approximately 51,000 stolen Ether into a single wallet valued at about $172 million after laying low for almost two years.
Blockchain Bandit Attacker Moves Over 50,000 ETH After 2 Years of Silence

Read more: Web3 Security Report 2024: DeFi Strengthens as CeFi Struggles

Blockchain Bandit Attacker Moves $172 Million in Stolen Crypto After Dormancy

The transfer is the latest by the notorious cyber-criminal after being silent since January 21, 2023.

These funds were sent from the ten addresses in batches of around 5,000 ETH each to the multisig wallet address “0xC45…1D542.” Besides Ethereum, the hacker transferred 470 Bitcoin in the same operation, renewing fresh speculation on his possible next moves.

Blockchain Bandit attacker ịn 2018
Source: ZachXBT

Experts Suspect North Korean Links to Infamous Cybercriminal

The Blockchain Bandit attacker was a well-known attacker active from 2016 to 2018 who stole significant amounts using the weakness of private keys.

The Ethercombing technique used in this attack is based on exploiting cryptographic vulnerabilities and poor implementation of random key generators to guess private keys. This sort of programmatic theft unearthed 732 private keys and resulted in the loss of close to 45,000 ETH through 49,060 transactions.

Most of these operations took place in 2018, but while a good number of investigations are still ongoing, the Blockchain Bandit attacker remains unknown.

However, some cybersecurity experts think that the attack might be connected with North Korean hacker groups, judging by their previous attacks on cryptocurrency platforms. Notably, these groups are also suspected of probing the security systems of the crypto exchange Hyperliquid.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Blockchain Bandit

ETH

Ethereum

Hyperliquid

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.