According to the report, published by an American security consulting company Independent Security Evaluators, a person, whom they call a “Blockchain Bandit”, broke into crypto wallets by finding the appropriate private keys to them.
The work was done so quietly and flawlessly that the hacker attack was actually detected by the ISE developers by accident.
Blockchain wallets are considered quite safe due to the fact that it is almost impossible to find all the private keys manually – there are just too many of them. However, human ducking and diving no boundaries. The “Blockchain Bandit” managed to guess 732 encrypted keys which helped this person steal so much money.
To be specific, the thief got hold of around 45 thousand ETH. At the time of writing this equals to more than 7.5 million dollars. If the hacker had conducted his operation, when Ethereum was at its highest, the sum would have been over 50 million dollars.
As mentioned by the ISE specialists, the keys to wallets might be vulnerable because of their simplicity or coding errors. Moreover, hackers are getting more and more advanced with each coming day.
“Due to the popularity and easy monetization of cryptocurrencies combined with the evidence that there are highly successful hacking campaigns ongoing to steal these virtual currencies, it should be concluded that any systems that handle private keys will be at an increased threat for targeted attacks,” is mentioned in the report.
The identity of the hacker is unknown yet, but there are suspicion that he/she/they might be from North Korea.
We would like to remind you about a major Dark Web scam, which resulted in the theft of 30 million dollars.
Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/