TL;DR
- The infamous Bitrue drainer, known for the $23.5 million heist in 2023, liquidated $16.34 million in Ethereum.
- In the last 24 hours, the hacker sold 4,207 ETH at $3,885 per unit, according to Lookonchain.
- The hacker retains assets valued in millions of dollars, including 4,650 ETH, 150 billion SHIB, and 756 million HOT.
The infamous Bitrue drainer, known for the historic $23.5 million theft on Bitrue Exchange last year, has returned to the scene with a new operation, liquidating a total of $16.34 million in Ethereum (ETH). The surveillance platform Lookonchain revealed these events, highlighting that the same hacker behind the massive Bitrue heist in 2023 has reappeared with a significant cryptocurrency sale.
Over the last 24 hours, the hacker executed a transaction unloading 4,207 ETH for a total of $16.34 million, denominated in the DAI stablecoin. This move occurred at a price of $3,885 per ETH.
The #Bitrue Drainer sold 4,207 $ETH for 16.34M $DAI at $3,885 8 hours ago.#BitrueDrainer stole $23.5M assets on April 14, 2023, including:
137,000 $QNT($17M)
46.4M $GALA($2M)
172.55B $SHIB($1.91M)
756M $HOT($1.54M)
318 $ETH($640K)
310,071 $MATIC($352K)Then sold 137,000 $QNT… pic.twitter.com/Ptg5mbCB5C
— Lookonchain (@lookonchain) March 11, 2024
This event follows the cyberattack on Bitrue on April 14, 2023, in which the wrongdoer made off with millions in digital assets. Stolen funds included 137,000 Quant (QNT), 46.4 million Gala (GALA), 172.55 billion Shiba Inu (SHIB), 756 million Holo (HOT), 318 ETH, and 310,051 Polygon (MATIC).
Bull Market Doubles Drainer’s Fortune
After the breach, the hacker sold 137,000 QNT for $14.74 million in Ethereum, causing a 9% drop in QNT’s value within hours. On the same day, the hacker liquidated 46.4 million GALA for $1.86 million, 22.55 billion SHIB for $236,000, and 310,071 MATIC for $343,000.
Despite these massive sales, some cryptocurrencies remained beyond the Drainer’s reach. Currently, the hacker’s holdings include 4,650 Ethereum, 150 billion SHIB, and 756 million HOT, with an estimated value of $17.68 million, $4.7 million, and $2.9 million, respectively.
It is essential to note that, although the value of the stolen assets was $23.5 million at the time of the theft, the recent bull market has more than doubled this value. In other words, despite previous sales, the hacker still retains a monetary value that surpasses the initial stolen funds.
