Wallets linked to the infamous ‘Blockchain Bandit’ attacker have reportedly become active after being dormant for over five years.

According to crypto investigator ZachXBT, the attacker consolidated 51,000 ETH worth over $172 million from 10 different wallets to a single multi-sig wallet.

Who is the Blockchain Bandit Hacker? 

ZachXBT’s analysis showed that all 10 wallet addresses used in today’s transfer were last active in 2018. This means the attacker has decided to access these funds for the first time in over five years.

So, who is this Blockchain Bandit? For those new to crypto, it’s likely to be an unfamiliar name. However, for long-term crypto enthusiasts, it was one of the most gripping and concerning names back in 2018. 

The infamous “Blockchain Bandit“ is a pseudonym for an attacker who systematically exploited weak private keys on the Ethereum blockchain to steal cryptocurrency. He became popular by simply guessing the private keys of several vulnerable wallets and stealing millions in funds. 

The attacker scanned the Ethereum network for wallets secured by weak, non-random, or poorly generated private keys. These keys were often the result of programming errors or faulty implementations of cryptographic libraries.

The Blockchain Bandit used automated scripts to search the blockchain for vulnerable addresses. When a weak key was identified, the attacker quickly transferred funds from the wallet to their own address. In most cases, it would be days before the owner became aware of the theft. 

Overall, the hacker was able to steal more than 50,000 ETH using this simple technique from over 10,000 wallets. The name ‘Blockchain Bandit’ came from a Go to Source to See Full Article
Author: Mohammad Shahid