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Victim of 90 ETH exploit set to claw funds back after hacker was blacklisted

Press Releases Crypto News Cointelegraph Victim of 90 ETH exploit set to claw funds back after hacker was blacklisted

With the help of police and cyber authorities, a victim of a hack worth 90 Ether (ETH) has gotten the attacker’s Tether (USDT) address blacklisted. As a result, they may be able to get most of their funds back.

[2023/08/11 17:30] USDT blacklisted 0x788bc56b67c289399cd6e2022f0d76484f04724a in block 17893148 https://t.co/WipjkHXFGp

— usdt blacklist (@usdtblacklist) August 11, 2023

The victim, who goes by L3yum on X (formerly Twitter), was initially drained on March 16 after the hacker managed to get a hold of their hot wallet seed phrase. Several Yuga Labs-related nonfungible tokens (NFTs) were stolen, alongside some crypto and other NFTs from smaller projects, before being promptly swapped or sold off.

In an Aug. 11 X thread, L3yum highlighted that the hacker’s Ethereum-based USDT address had been blacklisted: “Today after working with the police and cyber team in my country, I was able to get the stolen funds sitting in USDT frozen and black listed.”

The people I was working with were amazing
The original police officer I dealt with didn’t even know anything about crypto aside from hearing of it, but after a few phone calls just by the way he was talking I knew he was learning and actually cared
Very grateful

— L3yum (@l3yum) August 11, 2023

At the time of writing, 90 ETH is equivalent to roughly $166,000, and the blacklisted wallet has $107,306 worth of USDT locked up, suggesting the victim may not get the total value of their stolen funds back.

It’s not yet known if the victim will be reimbursed. However, in previous instances where a USDT address has been blacklisted under similar circumstances, Tether has burned the Go to Source to See Full Article
Author: Brian Quarmby

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