• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

2023-09-25

What is NBA Top Shot? A Beginner’s Guide

2023-09-22

Upland and KABOOM! Unite to Address Playspace Inequity

2023-09-22
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22

    Decentraland Hosts the First Metaverse Architecture Biennale

    2023-09-20

    A Step Towards Global Medical Metaverse Collaboration

    2023-09-18

    Shandong Province Aims for 10% of Global Metaverse Market by 2025

    2023-09-11
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18

    What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-08

    Your Guide to the Digital World of ENS Domains – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-04
  • Market Cap
CryptoNewsMetaverse
Home»'Blockchain Bandit' reawakens: $90M in stolen crypto seen shifting

'Blockchain Bandit' reawakens: $90M in stolen crypto seen shifting

2023-01-26No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

A hacker dubbed the “Blockchain Bandit” has finally woken from a six-year slumber and has started to move their ill-gotten gains.

According to Chainalysis, around $90 million in crypto pilfered from the attacker’s long-running string of “programmatic theft” since 2016 has started moving over the past week.

This included 51,000 Ether (ETH) and 470 Bitcoin (BTC) — worth a total of around $90 million — leaving the bandit’s address for a new one. Chainalysis noted:

“We suspect that the bandit is moving their funds given the recent jump in prices.”

The hacker was dubbed the “Blockchain Bandit” due to being able to empty Ethereum wallets protected with weak private keys in a process termed “Ethercombing.”

The attacker’s “programmatic theft” process has drained more than 10,000 wallets from individuals across the globe since the first attacks were perpetrated six years ago.

1/ $90M stolen funds on the move: After 6 years of hodling, the “Blockchain Bandit” has awoken. In this we cover how the Blockchain Bandit amassed this treasure trove and where the funds are currently held.

— Chainalysis (@chainalysis) January 25, 2023

In 2019, Cointelegraph reported that the Blockchain Bandit managed to amass almost 45,000 ETH by successfully guessing those frail private keys.

A security analyst said he discovered the hacker by accident while researching private key generation. He noted at the time that the hacker had set up a node to automatically filch funds from addresses with weak keys.

The researchers identified 732 weak private keys associated with a total of 49,060 transactions. It is unclear how many of those were exploited by the bandit, however.

“There was a guy who had an address who was going around and siphoning money from some of the keys we had access to,” he said at the time.

Blockchain Bandit crypto movements. Source: Chainalysis

Chainalysis produced a diagram depicting the flow of the funds, however, it did not specify the target address, only labeling them as “intermediary addresses.”

To avoid having weak private keys, Chainalysis advised users to use well-known and trusted wallets and consider moving funds to hardware wallets if large amounts of cryptocurrency are involved.

Related: Hackers keeping stolen crypto: What is the long-term solution?

Also in 2019, a computer researcher discovered a wallet vulnerability that issued the same key pairs to multiple users.

Source link

039Blockchain 90M Bandit039 Crypto reawakens Shifting stolen
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

2023-09-21

What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

2023-09-08

Your Guide to the Digital World of ENS Domains – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

2023-09-04

Navigating the significance of legal opinions in the crypto sphere

2023-09-02
Add A Comment

Leave A Reply Cancel Reply

Top Posts

BonqDAO protocol suffers $120M loss after oracle hack

2023-02-02

Ronin hackers transferred stolen funds from ETH to BTC and used sanctioned mixers

2022-08-21

Bitcoin Crash Sends Institutional Investors Running For The Hills

2022-06-15

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

2023-09-25

What is NBA Top Shot? A Beginner’s Guide

2023-09-22

Upland and KABOOM! Unite to Address Playspace Inequity

2023-09-22
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,345.000.48%
  • ethereumEthereum(ETH)$1,592.290.73%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$211.331.23%
  • rippleXRP(XRP)$0.510.59%
  • usd-coinUSDC(USDC)$1.00-0.06%
  • Lido Staked EtherLido Staked Ether(STETH)$1,590.620.74%
  • cardanoCardano(ADA)$0.2469010.88%
  • dogecoinDogecoin(DOGE)$0.061061-0.02%