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The attacker behind one of the largest ETH thefts in history has moved the stolen funds for the first time in two years, according to on-chain detective ZachXBT .
According to the analyst, the hacker transferred 51,000 ETH ($170.9 million) in 5,000-coin chunks from 10 wallets to a single multisig address. The entire procedure took him 24 minutes.
The “blockchain bandit” earned his name in 2016–2018 thanks to a series of attacks targeting wallets with “weak private keys.”
Flaws in the pseudo-random number generation mechanism and other issues in an early version of the Ethereum protocol allowed him to systematically “guess” secret combinations.
The hacker automated this process and hacked 732 addresses, from which he withdrew about 45,000 ETH through 49,060 transactions.
According to Adrian Bednarek, a senior security analyst at Independent Security Evaluators, the attacker may be associated with North Korean hacking groups, but no evidence has yet been found.
The Blockchain Bandit's funds have remained dormant since January 21, 2023.
| Blockchain Bandit Fund Distribution Scheme. Data: ZachXBT. |
The “blockchain bandit” earned his name in 2016–2018 thanks to a series of attacks targeting wallets with “weak private keys.”
Flaws in the pseudo-random number generation mechanism and other issues in an early version of the Ethereum protocol allowed him to systematically “guess” secret combinations.
The hacker automated this process and hacked 732 addresses, from which he withdrew about 45,000 ETH through 49,060 transactions.
According to Adrian Bednarek, a senior security analyst at Independent Security Evaluators, the attacker may be associated with North Korean hacking groups, but no evidence has yet been found.
The Blockchain Bandit's funds have remained dormant since January 21, 2023.