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After almost two years of inactivity, a hacker known as the “Blockchain Bandit” has shifted 51,000 Ethereum
$3,345.02
, worth $172 million, into a single wallet.
The hacker gained notoriety for stealing Ethereum by exploiting weak private keys. The funds, previously spread across 10 wallets, have been consolidated into an address labeled “0xC45…1D542”.
Before Blockchain Bandit combined the stolen Ethereum, the funds had been idle in these wallets since January 2023. On the same day in 2023, the hacker also transferred 470 Bitcoin
$92,511.32
.
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Blockchain investigator ZachXBT shared the details in a December 30 Telegram post. The transfers, typically in batches of 5,000 Ethereum, occurred between 8:54 PM and 9:18 PM UTC.
The Blockchain Bandit’s activities date back to 2016, with the major thefts occurring in 2018, as noted in ZachXBT’s analysis.
In April 2019, the hacker successfully guessed 732 private keys, which enabled access to 49,060 transactions, and stole nearly 45,000 Ethereum. This approach, called “Ethercombing”, relies on scanning for vulnerabilities like faulty code and poorly generated random numbers.
The true identity of the Blockchain Bandit remains a mystery. Adrian Bednarek, a senior security expert, previously speculated that the hacker could be linked to a state actor, such as North Korea, but no evidence confirms this theory.
Meanwhile, ZachXBT reported that hackers stole $5.36 million from around 40 LastPass users on December 17. How did they pull it off? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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