Cryptocurrency owner loses $ 27 million as a result of digital wallet hacking

An unknown cybercriminal attacked a crypto wallet linked to the Binance cryptocurrency exchange and stole $ 27 million from the Tether stablecoin. The victim managed to get the money back just a week ago. The hack was reported by blockchain analyst ZachXBT.

According to the analysis, the cybercriminal quickly exchanged the stolen funds for Ethereum ETH $3,225.82 Bridged Ether (StarkGate) -2.26% Market capitalization $0.29 billion VOL. 24 hours $1.25 billion . To cover his tracks, he used services such as FixedFloat and ChangeNow. Subsequently, the hacker converted the assets into bitcoin BTC $94,228.12 Bitcoin -2.50% Market capitalization $1.87 trillion VOL. 24 hours $2.02 billion using the decentralized THORChain protocol.

As ZachXBT found out, the attacked wallet received $ 27 million USDT after being withdrawn from Binance a week before the hack. The victim is also linked to the crypto exchange’s smart contract deployment address. The hack was also confirmed by analysts at PeckShield.

In early September, a blockchain analyst accused four crypto bloggers of market manipulation. According to ZachXBT, the influencers fraudulently obtained tokens of cryptocurrency projects, deliberately increased their prices, and then sold them.

It should be added that on November 10, attackers attacked Justin Sun’s cryptocurrency exchange Poloniex. As a result, the hackers managed to take more than $ 49 million in cryptocurrency. The owner of the trading platform confirmed the hack and promised to compensate users' losses at his own expense.

Sun suggested that cybercriminals solve the problem without involving law enforcement agencies. He offered the hacker a reward of 5% of the stolen amount and gave him seven days to think about it.