Crypto Hacker’s Latest Moves: $328,000 In MATIC & BNB Tokens

The hacker has trans­ferred $4.8 million in funds to Bitcoin and Avala­nche following the $41 million hack on crypto casino Stake. According to CertiK, a block­chain security firm, they have moved an addit­ional $328,000 million worth of Polygon (MATIC) and BNB tokens. These recent actions come in the wake of the exploit on Sept 4.

The most recent transfer involved 300 BNB tokens valued at approximately $61,500. This significant trans­action occurred on Sept 11 at 4:09 pm UTC and was sent to the external wallet address “0x69­5…”. Subseq­uently, these tokens were seaml­essly trans­ferred to the Avalanche blockc­hain.

An addit­ional 520,000 MATIC tokens, valued at over $266,000, had also been trans­ferred to Avalanche earlier at 7:18 am UTC.

The stolen funds, which amount to $4.5 million, were bridged to the Bitcoin block­chain on Sept 7. According to Arkham, a trusted block­chain security firm, an additional $328,000 was obtained through 520,000 MATIC and 300 BNB tokens.

However, it’s important to note that this transfer only repre­sents a mere 1.2% of the total $41 million stolen by the hacke­rs.

The hacker accessed Stake’s Binance Smart Chain and Ethereum hot wallets, enabling them to hack on Sept 4. The United States Federal Bureau of Invest­igation suspects North Korea’s Lazarus Group orches­trated this explo­it.

Crypto Hacks & Scams Cross $1 Billion Mark In 2023

However, With $41 million taken from Stake, the malicious actors in the industry have now pushed the toll of crypto hacks and scams to well over $1 billion in 2023.

CertiK had reported the total amount as $997 million by the end of August. However, recent attacks in the past two weeks will result in surpa­ssing the significant milestone of $1 billion.

In Sept, a whale in the world of cryptocu­rrencies suffered a significant loss. A stagg­ering sum of $24 million worth of staked Ether (ETH) was snatched away from them, all due to a cunning phishing attack on Sept 6. As if that wasn’t enough, it seemed like misfo­rtune had no bound­aries when the illus­trious X account belonging to Vitalik Buterin (previously known as Twitter) fell victim to compr­omise in Sept.

The three occurrences would bring CertiK’s August total to a minimum of $1.04 billion.

Other recent incidents have caused significant setbacks for inves­tors. Pepe coin’s withd­rawal incident alone resulted in a loss of $13.2 million, while Exactly Proto­col’s exploit amounted to $7.3 million. Additionally, a security vulner­ability in Balancer exposed the platform to damages worth $2.1 milli­on.

Related Reading | FTX Legal Battle: Pursuing $21M From LayerZero Labs Pre-Bankruptcy

“The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.”

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