A Blockchain Bandit hacker has become active again after previously stealing cryptocurrencies including Ether and Bitcoin, valued at $90 million in 2018.
Blockchain Bandit Attacker Wakes up from Slumber; Moves 51K ETH
According to ZachXBT, the Blockchain Bandit attacker has become active again after years of dormancy, and has collected 51,000 ETH ($172.2 million) into a multi-signature address (0xC45C36017b0B7708f493534Ca4f0930964C1D542). https://t.co/lWmVEd2nJv
— Wu Blockchain (@WuBlockchain) December 31, 2024
According to crypto investigator ZachXBT, the attacker consolidated 51,000 ETH (valued at nearly $170 million) into a single multisig address: 0xC45C36017b0B7708f493534Ca4f0930964C1D542.
The Blockchain Bandit initially resurfaced in January 2023 after being dormant for six years. At that time, the hacker began moving approximately $90 million in stolen assets, including 51,000 Ether (ETH) and 470 Bitcoin (BTC). Active since 2016, the attacker used a technique called “Ethercombing,” which exploits weak Ethereum private keys. This method involves scanning suboptimal or “narrowed” sub-regions of 256-bit keys, enabling the hacker to drain over 10,000 wallets globally. Through this strategy, the Blockchain Bandit amassed over 51,000 Ether from individual wallets.
Experts suggest the sudden movement of funds may be triggered by rising cryptocurrency prices.
On January 16, 2023, the hacker began transacting again, and by January 21, the Blockchain Bandit had moved almost all of their holdings i.e., 51,000 ETH and 470 BTC, worth approximately $214.53 million at current market prices, to new addresses.
Most recently, the attacker has today transferred the 51,000 ETH, now worth approx $170 million, into a single multisig address.
Also Read: Animoca Brands’ Yat Siu’s X Account Hacked to Promote Fake Crypto Token
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