Official announcements from Ethereum Foundation or major crypto security firms

Blockchain Bandit Resurfaces, Transfers $172M in Ethereum to Multi-Sig Wallet

Dec 31, 2024, 09:47 AM

The Blockchain Bandit, a hacker notorious for exploiting weak private keys in Ethereum wallets, has resurfaced after two years of dormancy. The hacker consolidated 51,000 ETH, valued at approximately $172.2 million, into a single multi-signature wallet (0xC45C36017b0B7708f493534Ca4f0930964C1D542). These funds, stolen through vulnerabilities in wallet key generation, were transferred in batches of 5,000 ETH from ten previously inactive wallets on December 30, 2024. The Blockchain Bandit initially gained notoriety for exploiting weak keys in Ethereum wallets, a technique known as 'Ethercombing,' which allowed the automated theft of cryptocurrency. The hacker's activities highlight ongoing security challenges in the cryptocurrency ecosystem, as outdated key generation techniques and poor wallet practices continue to expose users to risks. The reactivation of the Blockchain Bandit underscores the importance of robust security measures in the crypto industry.