Ethereum Hacker Emerges Again After a 7-Year Hiatus to Cleanse Pilfered $ETH

A major security vulnerability in the Parity Multisig Wallet version 1.5+ was exposed in 2017, resulting in unauthorized access and the theft of over 150K ETH, valued at approximately $30M USD at the time. This amount is now valued at $442M. Recently, the hacker responsible for the theft began laundering 3050K ETH, worth $9M, through the eXch platform. They still have control over 83017K ETH, now valued at $246.6M, according to Cyvers Alerts. This event has drawn attention to the risks involved in storing and managing digital assets.
In 2017, a vulnerability in the Parity Multisig Wallet version 1.5+ was exposed, leading to the theft of more than 150K ETH, valued at around $30M USD back then.
The hacker responsible for this theft has shown incredible patience, marking a significant moment in the history of cryptocurrency. Today,…
pic.twitter.com/JPD5nJcmrJ
— Cyvers Alerts (@CyversAlerts)
May 13, 2024
Thief to Launder Stolen Ethereum Worth $9M
Fast-forwarding to the present, the individual behind the Ethereum theft has re-emerged after 7 years, but in a surprising manner. Instead of attempting to conceal the stolen funds, this person is now laundering a portion of the stolen cryptocurrency.
This strategy involves the transfer of 3050K ETH, valued at around $9M, through the eXch platform. The funds are disguised by using multiple consolidated addresses, making it challenging to track. Those interested in monitoring these activities can do so using the following address: etherscan.io/address/0x5167052b83f36952d1a9901e0de2b2038c3dd1a3.
However, as for the mentioned laundering activity, a total of 83017K ETH, equivalent to approximately $246.6M USD, remains in the possession of the perpetrator. To this day, the entire amount is accessible through the main address: etherscan.io/address/0xb3764761e297d6f121e79c32a65829cd1ddb4d32.
Hacker Reappearance Prompts Digital Asset Security Reminder
This event once again emphasizes the numerous threats and challenges present in the cryptocurrency sphere. Despite efforts to address these issues, fraudsters continue to exploit existing vulnerabilities for their own gain.
Lastly, the reappearance of the identified criminal associated with the Parity Multisig Wallet serves as a reminder that all digital asset owners must remain vigilant and protect their assets in a more secure manner.
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