Crypto Community on Alert: Dormant Hacker Steals and Launders Millions!

The post Crypto Community on Alert: Dormant Hacker Steals and Launders Millions! appeared first on Coinpedia Fintech News

A previously inactive crypto exploiter has resurfaced, resuming large-scale laundering and transferring of assets between multiple addresses and contracts, according to a recent report from CertiK Alerts. The return of this attacker has raised significant concerns within the cryptocurrency community, as they have used sophisticated techniques to clean a large portion of the stolen funds.

On November 9th, the exploiter made their first major move in months, transferring 2.6 million Dai (DAI) to four different addresses. This was the first major activity seen in months of silence. The next day, another 2.6 million DAI was staked into the Maker sDAI contract, a standard DeFi protocol process, demonstrating the exploiter’s familiarity with decentralized finance systems.

Millions in Stolen Assets Unlaundered – Why?

Surprisingly, these transfers account for only about half of the total stolen assets. As of today, a significant portion of the 3,027 ETH (worth $10 million) remains in address 0x7397. Additionally, 2.6 million DAI is still in address 0x7b00, and 762 ETH is held in address 0x7d38. These figures show that millions in stolen funds remain unlaundered, raising concerns about the exploiter’s ongoing activity.

What’s Next for Crypto Users?

The return of this exploiter highlights the ongoing risks faced by DeFi protocols and crypto wallets holding large amounts of cryptocurrency. Exploiter tactics continue to evolve, and users are urged to stay vigilant by watching for suspicious transactions and compromised addresses.

As such exploitative techniques continue to change, crypto users and related platforms should take the necessary measures to prevent such attacks. Staying proactive and alert is essential to reducing the risk of falling victim to such attacks.