The infamous hacker dubbed the Blockchain Bandit has awakened from a two-year slumber and transferred the stolen Ethereum.
Blockchain detective ZachXBT found , that the attacker sent 10 ETH worth $51 million at the current rate from 000 crypto wallets to one multi-signature crypto storage. Based on this, it can be assumed that the Blockchain Bandit did not act alone, but in a group, and now several people want to control the stolen cryptocurrency.
Scheme of movement of stolen ethereums
From 2016 to 2018, the Blockchain Bandit managed to guess 732 “weak” private keys to crypto wallets and get almost 45 ETH. According to cybersecurity analyst Adrian Bednarek, the criminal learned the private keys due to bugs in the source code of the software developed to generate them. Accordingly, instead of using the brute force method, the hacker looked for software that worked with errors and found out the login details for the crypto storages.
Law enforcement has yet to identify the Blockchain Bandit, but Bednarek believes that North Korean hackers are behind the moniker. According to Chainalysis, North Korean hackers have carried out 47 cyberattacks this year and kidnapped digital assets worth $1,34 billion. They accounted for 61% of cryptocurrencies stolen by all hackers in 2024.
