On-chain transactions leading up to the return suggest that this wasn’t a white hat hacker, but a malicious actor intending to steal the funds, before the attention of on-chain investigators.
On-chain transactions leading up to the return suggest this wasn’t a white hat hacker but a malicious actor who intended to steal the funds before investigators got involved.) tokens on May 12, after the high-profile phishing incident caught the attention of multiple blockchain investigation firms. On-chain security firm Lookonchain unpacked the details in an X
“SlowMist_Team released a report on this incident 3 days ago, tracking multiple attacker’ IPs possibly from Hong Kong . After that, the attacker replied to the whale and returned all the funds.” to a bait wallet address, falling victim to a wallet poisoning scam. The scammer created a wallet address with similar alphanumeric characters and made a small transaction to the victim’s account.
After receiving the stolen funds, the attacker immediately converted the 1,155 WBTC to approximately 23,000 ETH — a popular move by malicious hackers that can help launder stolen funds via privacy protocols and crypto mixing services such as Tornado Cash.the funds across over 400 crypto wallets, which ultimately ended up in over 150 separate wallets, before returning the assets.
“Upon investigating this fee address, we observed that from April 19 to May 3, this address initiated over 20,000 small transactions, distributing small amounts of ETH to various addresses for phishing purposes.”CPI meets $60K BTC price battle — 5 things to know in Bitcoin this week
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