The hacker behind the info breach focusing on Coinbase customers mocked blockchain investigator ZachXBT with an onchain message following a serious crypto swap.
On Could 21, the hacker used Ethereum transaction enter knowledge 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 chargeable for the Coinbase knowledge breach affecting a minimum of 69,400 customers.
On Could 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 obtained 9,081 ETH by way of THORChain, additionally transformed the property into 23 million DAI.
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Coinbase hit with lawsuits after breach
The Coinbase breach, first reported in a submitting with the Maine Lawyer Normal’s workplace, occurred in December 2024 and was found on Could 11. The stolen knowledge contains names, dwelling addresses and different private info.
Following the disclosure, the attackers demanded a $20 million ransom in Bitcoin to stop the discharge of the stolen knowledge. Coinbase refused and as a substitute provided a $20 million bounty for info resulting in the identification of the hackers.
The corporate estimates a possible monetary influence between $180 million and $400 million as a consequence of remediation prices and buyer compensation.
Coinbase has additionally confronted a wave of lawsuits following the revelation. No less than six authorized complaints have been filed on Could 15 and 16, with plaintiffs accusing the change of failing to implement satisfactory safety measures and mishandling its response to the breach.
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THORChain below scrutiny for legal 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 function in facilitating illicit transactions.
In March, the platform got here below fireplace 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 corporations recognized North Korea’s Lazarus Group as the primary suspect, utilizing THORChain to launder a good portion of the stolen funds.
The controversy intensified when a THORChain developer, often known as “Pluto,” resigned after a vote to dam transactions linked to Lazarus was overturned.
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