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Parity Wallet Hacker Resurfaces After 7 Years of Inactivity

hacker ethereum parity wallet

TL;DR

  • The hacker behind the Parity Wallet theft returns after seven years of inactivity. Carrying out a massive money laundering operation that surprises the community.
  • In 2017, he exploited a security loophole in Parity Multisig Wallet to steal over 150,000 ETH. Leaving an indelible mark on the crypto industry’s history.
  • Despite laundering part of the stolen funds, he still control a large amount of Ethereum, valued at approximately $246.6 million. Generating concern and speculation about their next moves.

The hacker behind the Parity Wallet theft has returned after seven years of inactivity, surprising the community. The cybercriminal was responsible for the theft of thousands of Ethereum in 2017 and has reappeared to carry out a massive money laundering operation.

In July 2017, the hacker exploited a security loophole in Parity Multisig Wallet to drain over 150,000 ETH from three high-profile multi-signature contracts. Despite subsequent efforts by the blockchain community and investigations, the stolen funds were never recovered, leaving an indelible mark on the industry’s history.

After years of silence, the hacker has returned to activity. They used multiple consolidated addresses to initiate the laundering of 3,050 ETH (approximately $9 million) through an automatic crypto exchange. The movements were detected by the blockchain security firm Cyvers. The thief has surprised many with their patience and determination. As well as the audacity of their move after such a long time.

ethereum hacker parity wallet

The Hacker Still Possesses Over 83,000 ETH

Despite laundering part of the stolen funds, the hacker still controls a tremendous amount of Ethereum. A total of 83,017 ETH, valued at approximately $246.6 million. Their reappearance has generated concern in the community, which closely follows their actions and speculates about their next moves.

In a completely unusual move, a message addressed to the hacker has been observed on the blockchain. Where an anonymous party invites them to provide liquidity for perpetual decentralized exchanges (perp DEXs). However, so far, the criminal has not responded to this message. Leaving all kinds of uncertainties about their future intentions.

With the return of the Parity Wallet hacker, old debates about security within the crypto industry have been revived. It has also spread uncertainty within the community about what it may mean for them to mobilize such high figures in Ethereum.

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