A Bitcoin hacker who stole $72 million in digital currency has returned the funds in exchange for a $7.2 million “bounty.” The hacker’s unexpected act of returning the stolen funds has shocked the cryptocurrency community. Read on to learn more about this intriguing story on DL News.
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A wBTC hacker who managed to steal $72 million worth of wrapped Bitcoin tokens from a victim in early May has now agreed to return 90% of the funds back to the original owner. The remaining 10%, which amounts to $7.2 million, will be kept by the hacker as a “bounty” after negotiations with the victim.
The return of funds has already begun, with almost half of the stolen loot transferred back to the victim so far. The deal was brokered through onchain messaging and Telegram chats, with the victim providing his online identity as “Bui Duy Phong.”
The victim communicated to the hacker that he could keep 10% of the funds and return the rest, stating that $7 million is enough to live comfortably but $70 million would weigh heavily on the hacker’s conscience. The hacker used a phishing attack involving address poisoning to trick the victim into sending funds to the wrong destination wallet.
Last year, there were crypto thefts amounting to $1.7 billion, with phishing attacks playing a significant role in the stolen funds. Victims lost over $300 million to phishing attacks, with large wallet drainers like MS Drainer, Pink, Monkey, and Inferno Drainer being the primary culprits.
Offering a 10% bounty to hackers has become a common strategy for recovering stolen crypto funds, often in exchange for not involving law enforcement. The infamous Euler exploiter who stole $197 million in crypto from a DeFi protocol last year initially resisted a similar offer but eventually returned the funds.
Overall, phishing attacks remain a significant threat in the crypto space, with victims losing millions to these malicious schemes. It is crucial for users to stay vigilant and take necessary precautions to safeguard their digital assets.
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1. What happened with the Bitcoin hacker who returned $72 million in exchange for $7.2 million?
The hacker returned the stolen funds as a “bounty” and received $7.2 million in return.
2. Why did the hacker return the stolen Bitcoin funds?
The hacker returned the funds as a form of reward or compensation for returning the stolen money.
3. How much money did the hacker initially steal?
The hacker initially stole $72 million worth of Bitcoin.
4. Was the hacker legally obligated to return the stolen funds?
It is unclear whether the hacker was legally obligated to return the stolen funds, but they chose to do so voluntarily.
5. What consequences, if any, did the hacker face for stealing the funds in the first place?
It is unknown if the hacker faced any legal consequences for the theft, but they did receive the $7.2 million bounty for returning the funds.
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