A Hacker Stole $27 Million in USDT from a Crypto Wallet
Recently, a crypto wallet fell victim to a hack, resulting in the loss of $27 million in USDT. The breach was first noticed by on-chain analyst ZachXBT, who observed that the stolen Tether coins were quickly converted into Ethereum (ETH) and then transferred through various services before ultimately being exchanged for Bitcoin (BTC) using the THORChain protocol. It was discovered that funds had been withdrawn from the Binance exchange to the hacked wallet a week prior to the incident. Additionally, an unknown hacker had attacked the Poloniex cryptocurrency exchange a week earlier, resulting in cumulative losses exceeding $124.5 million in digital assets. The exchange is seeking assistance from other platforms to recover the stolen assets.
Hot Take: Crypto Hacking Incidents on the Decline
Last month saw a decrease in damage from hacking incidents across 23 cases, dropping to $51 million, marking an 85.6% decrease from the previous month. However, the most significant damage for the month was still caused by hacker attacks, totaling about $28.33 million.
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