A significant security flaw was exposed in the Parity Multisig Wallet version 1.5+ in 2017, resulting in the unauthorized access and theft of over 150K $ETH. At the time, this amounted to $30 million, but with the current price, it is now valued at $442M. Recently, the hacker responsible for the theft has started laundering 3050K ETH through the eXch platform, totaling $9 million. They still have control over 83017K ETH, which is now valued at $246.6 million, according to Cyvers Alerts. This incident has brought attention to the risks associated with storing and managing digital assets.
ALERT In 2017, a vulnerability in Parity Multisig Wallet version 1.5+ resulted in the theft of over 150K ETH, valued at approximately $30M USD at the time.
The perpetrator behind this theft has shown remarkable patience, marking a significant milestone in the history of cryptocurrency. Today,…
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— Cyvers Alerts (@CyversAlerts)
May 13, 2024
Thief to Launder Stolen Ethereum Worth $9M
Fast-forwarding to the present day, the individual responsible for the Ethereum theft has reappeared after 7 years, but in a surprising manner. Instead of attempting to conceal the stolen funds, this individual is now laundering a portion of the stolen cryptocurrency.
This process involves transferring 3050K ETH, equivalent to approximately $9 million, through the eXch platform. By utilizing multiple consolidated addresses, the funds are disguised, making it challenging to trace their movements. Those interested in monitoring these activities can do so via the following address: etherscan.io/address/0x5167052b83f36952d1a9901e0de2b2038c3dd1a3.
However, the perpetrator still retains control over 83017K ETH, equivalent to $246.6 million USD. To this day, this quantity remains fully accessible through the main address: etherscan.io/address/0xb3764761e297d6f121e79c32a65829cd1ddb4d32.
Hacker Reappearance Prompts Reminder of Digital Asset Security
This incident once again emphasizes that the cryptocurrency world continues to pose numerous threats and challenges. Despite efforts to address these issues, fraudsters persist in exploiting existing vulnerabilities for their own benefit.
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 take steps to protect their assets in a more secure manner.
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