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With the help of police and cyber authorities, a victim of a hack worth 90 Ether
ETH
$1,850
has gotten the attacker’s Tether
USDT
$1.00
address blacklisted. As a result, they may be able to get most of their funds back.
The victim, who goes by L3yum on X (formerly Twitter), was initially drained on March 16 after the hacker managed to get a hold of their hot wallet seed phrase. Several Yuga Labs-related nonfungible tokens (NFTs) were stolen, alongside some crypto and other NFTs from smaller projects, before being promptly swapped or sold off.
In an Aug. 11 X thread, L3yum highlighted that the hacker’s Ethereum-based USDT address had been blacklisted: “Today after working with the police and cyber team in my country, I was able to get the stolen funds sitting in USDT frozen and black listed.”
At the time of writing, 90 ETH is equivalent to roughly $166,000, and the blacklisted wallet has $107,306 worth of USDT locked up, suggesting the victim may not get the total value of their stolen funds back.
It’s not yet known if the victim will be reimbursed. However, in previous instances where a USDT address has been blacklisted under similar circumstances, Tether has burned the blacklisted USDT and re-issued equal amounts of the asset to the original owner.
It is also worth noting that the blacklisting of a USDT address by Tether generally comes after a court order.
With the help of police and cyber authorities, a victim of a hack worth 90 Ether
ETH
$1,850
has gotten the attacker’s Tether
USDT
$1.00
address blacklisted. As a result, they may be able to get most of their funds back.
The victim, who goes by L3yum on X (formerly Twitter), was initially drained on March 16 after the hacker managed to get a hold of their hot wallet seed phrase. Several Yuga Labs-related nonfungible tokens (NFTs) were stolen, alongside some crypto and other NFTs from smaller projects, before being promptly swapped or sold off.
In an Aug. 11 X thread, L3yum highlighted that the hacker’s Ethereum-based USDT address had been blacklisted: “Today after working with the police and cyber team in my country, I was able to get the stolen funds sitting in USDT frozen and black listed.”
At the time of writing, 90 ETH is equivalent to roughly $166,000, and the blacklisted wallet has $107,306 worth of USDT locked up, suggesting the victim may not get the total value of their stolen funds back.
It’s not yet known if the victim will be reimbursed. However, in previous instances where a USDT address has been blacklisted under similar circumstances, Tether has burned the blacklisted USDT and re-issued equal amounts of the asset to the original owner.
It is also worth noting that the blacklisting of a USDT address by Tether generally comes after a court order.
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