Expert reports $27 million crypto wallet hack

On November 12, the attacker hacked a crypto wallet for a total of around $27 million in stablecoin USDT. This was stated by on-chain sleuth ZachXBT.

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It appears someone had 27M USDT stolen yesterday.

0x0f2183c8e415e61b4ad7774bf1097019eb2d5b85798a2a229070495131d60321

USDT was quickly swapped for ETH, then transferred to a number of services (FixedFloat, ChangeNow, etc), and bridged to Bitcoin via THORChain. pic.twitter.com/SgEBwyZZSc

— ZachXBT (@zachxbt) November 12, 2023

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The hacked wallet holder received USDT after a withdrawal from Binance about a week ago. As noted by ZachXBT, the wallet also interacted with the exchange’s smart-contract deployment address from May 2019.

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The hacker converted the received funds into Ethereum, and then directed them to various services such as FixedFloat and ChangeNow. Afterwards, he moved the assets to the Bitcoin network via THORChain.

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«It is likely that [the hacker] will transfer the funds to a mixer or send them to a dubious service. Withdrawing large sums through the over-the-counter market is a common occurrence (it will happen later, after the funds are laundered),» concluded the researcher. 

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Earlier, ZachXBT suspected the theft of 1282 ETH (~$2 million at the time of the attack) from the CoinSpot exchange as a result of the hack. 

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Earlier, the on-chain sleuth detected movement of 4800 BTC from the closed darknet market Abraxas in October.