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Crypto hacker commits perfect theft but can’t do anything with it

Crypto hacker pleegt perfecte diefstal, maar kan er niets mee

Last Tuesday, a smart hacker experienced an emotional roller coaster ride. The cybercriminal managed to make millions in a cunning way crypto steal. When the hacker triumphantly opened a bottle of champagne, he found the loot was useless.

Clever crypto hacker steals millions, can’t do anything with it

On August 1st, a hacker whose identity is not yet known committed a clever theft. According to the transaction data, the hacker had done a lot of preliminary work. He or she would select a victim and take a close look at which addresses the ill-fated cryptocurrency was sending to.

Next, the clever criminal created an address that looked almost identical to the address the victim would normally send cryptocurrencies to. Then the hacker managed to frame the unsuspecting man or woman. He sent the huge amount of Tether (USDT) to the imitation instead of to the intended address, reports Binance CEO Changpeng Zhao.

Damage totaled 20 million USDT worth $20 million. The coin is a so-called stablecoin, which always has a fixed value. In the case of USDT, this fixed value corresponds to the US dollar. However, the company got behind the currency, connectionWithin an hour, he managed to find the hacker’s address blacklist. This means that the hacker can no longer use the crypto at all.

Tether’s lightning-fast action raises questions

The USDT is now unaffected blacklisted Wallet or digital storage of the hacker. That Tether reacted so quickly is something very special. It usually takes several hours to days for action to be taken. First it has to be reported to the authorities and the company, then there will be an investigation and so on. Action was taken almost immediately.

That has one a lot of speculation within the crypto industry. Due to the extremely fast response, there is a suspicion that the victim has contacts within Tether. Also special are the huge amounts of money sent to and from the victim’s address. Not everyone sends millions to the same address every week. However, the identity of the victim remains unknown.

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