WBTC Attack: Hacker Who Stole $71M Crypto Returns 11K ETH, Here’s All

In the aftermath of a harrowing crypto incident, a scammer who absconded with a staggering $71 million worth of WBTC from a trader has now begun refunding in Ethereum, a development that has sparked intrigue across the global crypto community. As per insights revealed by various on-chain analytics platforms on May 10, it was disclosed that 4,676 $ETH, worth $14.2 million, has been returned to the victim, turning heads across the crypto community.

This chronicle has raised speculations surrounding a potential agreement between the victim and the attacker. Meanwhile, it’s also worth noting that Wrapped Bitcoin (WBTC) traded at $62,944.96, up 2.99% over the past day, whereas Ethereum (ETH) traded at $3,028.87, ascending 2.13%.

Crypto Attack Victim Receives Ethereum: What’s The Scoop?

Through data spotlighted by ‘EmberCN,’ it is evident that the crypto trader who fell victim to a phishing attack replied ‘ok’ to the phishing gang via the chain. Following this, the attacker promptly began transferring ETH to the address, underscoring that the two parties may have potentially reached an agreement.

On the other hand, previous on-chain messages show that the two parties moved to Telegram for negotiations. Now, with the attacker refunding the colossal amount of ETH, it might not be wrong to say that an agreement has been reached.

Meanwhile, data by another tracker, PeckShieldAlert, showcased that 11,446.87 ETH, worth 50% of the stolen WBTC funds, have already been returned.

#PeckShieldAlert ~50% of the stolen funds (~11,446.87 $ETH worth ~$34.7m) has been returned to the victim's address pic.twitter.com/QRm6ZfWygr

— PeckShieldAlert (@PeckShieldAlert) May 10, 2024

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Crypto Trader Falls Victim To Phishing

As reported by CoinGape Media earlier, the address 0x1E227… fell victim to a phishing scam earlier this month. The trader lost colossal amounts of WBTC by inadvertently copying the wrong address from a tainted transfer history and sending 1155 WBTC to it.

This chronicle unfolded, causing ripples across the broader crypto space, with crypto critics further capitalizing on the opportunity by questioning user safety. However, the case took a sharp 180-turn soon when the attacker initially sent 51 ETH to the victim, seeking the trader’s Telegram, as mentioned above.

Also Read: Ripple CTO Reveals Reason Behind Ethereum Pre-ICO Investment Amid ETH Gate Feud