The hacker behind the information breach focusing on Coinbase customers mocked blockchain investigator ZachXBT with an onchain message following a serious crypto swap.
On Might 21, the hacker used Ethereum transaction enter information to put in writing “L bozo,” adopted by a meme video of NBA participant James Worthy smoking a cigar.
The message got here after the attacker swapped about $42.5 million from Bitcoin (BTC) to Ether (ETH) by way of THORChain.
ZachXBT flagged the message on his Telegram channel, linking it to the identical entity liable for the Coinbase information breach affecting at least 69,400 users.
On Might 22, blockchain safety agency PeckShield reported that the hacker had continued to maneuver funds, swapping 8,697 ETH for 22 million Dai (DAI). A separate however intently linked deal with, which acquired 9,081 ETH by way of THORChain, additionally transformed the belongings into 23 million DAI.
Associated: DOJ is investigating Coinbase data breach— Report
Coinbase hit with lawsuits after breach
The Coinbase breach, first reported in a submitting with the Maine Legal professional Normal’s workplace, occurred in December 2024 and was found on Might 11. The stolen information contains names, residence addresses and different private info.
Following the disclosure, the attackers demanded a $20 million ransom in Bitcoin to forestall the discharge of the stolen information. Coinbase refused and as an alternative supplied a $20 million bounty for info resulting in the identification of the hackers.
The corporate estimates a possible monetary affect between $180 million and $400 million as a consequence of remediation prices and buyer compensation.
Coinbase has additionally faced a wave of lawsuits following the revelation. At the least six authorized complaints had been filed on Might 15 and 16, with plaintiffs accusing the alternate of failing to implement enough safety measures and mishandling its response to the breach.
Associated: Coinbase data leak could put users in physical danger: TechCrunch founder
THORChain underneath scrutiny for prison use
The Coinbase hacker’s use of THORChain to swap $42.5 million value of Bitcoin into Ether comes because the protocol faces rising scrutiny over its position in facilitating illicit transactions.
In March, the platform came under fire after its swap quantity surged following the $1.4 billion Bybit hack. The protocol generated over $5 million in income after processing $5.4 billion in swap quantity, with over $1 billion moved in a single day.
Blockchain safety companies recognized North Korea’s Lazarus Group as the principle suspect, utilizing THORChain to launder a good portion of the stolen funds.
The controversy intensified when a THORChain developer, often called “Pluto,” resigned after a vote to block transactions linked to Lazarus was overturned.
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