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Hacker who stole 1155.2 WBTC returned all funds

The hacker, who defrauded a trader of 1155.2 WBTC on May 3, 2024, returned all the funds to the victim. This is reported by The Block with a link to the press release.

The statement said that blockchain cybersecurity company Match Systems and the Cryptex exchange took part in negotiations for the return of funds.

According to journalists, the attacker exchanged the stolen WBTC for Ethereum after the theft. Since the incident, the price of the asset has decreased, so he lost some of his funds. However, the hacker returned $71 million to the victim, taking into account changes in prices for crypto assets, the report notes.

Match Systems CEO Andrei Kutin said that “so far the victim has no claims against the attacker.”

The hacker managed to steal funds using a fraudulent scheme using spam transactions (address poisoning). Its essence lies in the fact that the attacker sends the victim small transfers from similar addresses following a successful transaction. Some crypto wallets do not display the entire account, so there is a high probability that the owner will make a mistake by transferring money to a scammer.

Later, the attacker with $71 million worth of stolen WBTC returned $152,000 to the victim as compensation.

Source: Cryptocurrency

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