Who Is the “Blockchain Bandit”? The Hunt for the Infamous Crypto Hacker
In the Web3 industry, cryptocurrency thefts are becoming a common occurrence. However, attackers are not always able to immediately use the stolen funds. More often than not, they store the assets in decentralized wallets, waiting for the right moment to withdraw them. In the meantime, such wallets are constantly monitored by both law enforcement agencies and independent crypto analysts. In today’s article, Coinmooner will share an intriguing story about one such fraudster who has resurfaced after a long period of silence.
One of the most infamous hackers in the crypto industry, known as the “Blockchain Bandit,” unexpectedly became active again after two years of inactivity. The criminal transferred a large amount of stolen Ether, drawing the crypto community's attention.
A well-known blockchain investigator, ZachXBT, discovered that the hacker moved 51,000 ETH—approximately $170.1 million at the current exchange rate. These funds were transferred from ten decentralized wallets to a single multi-signature storage. This suggests that the hacker is likely not acting alone: the Blockchain Bandit may be part of a group that seeks to share control over the stolen cryptocurrency.
Mystery Hacker Resurfaces: Inside the Story of the “Blockchain Bandit”
The Blockchain Bandit’s activity dates back to 2016–2018. During that time, he gained access to 732 “weak” private keys of crypto wallets and stole around 45,000 ETH. According to cybersecurity analyst Adrian Bednarek, the criminal exploited vulnerabilities in the software code used for key generation. Instead of relying on standard password brute-forcing methods, he identified bugs in the software and used them to extract access data to crypto storage.
The identity of the Blockchain Bandit remains a mystery to law enforcement. However, Bednarek believes that North Korean hackers may be behind the pseudonym. According to data from Chainalysis, North Korean attackers carried out 47 cyberattacks in 2024 alone, stealing digital assets worth $1.34 billion. This accounts for 61% of all cryptocurrency stolen by hackers worldwide over the past year.
In the new year of 2025, Coinmooner will continue to closely monitor key developments in the Web3 world and keep readers informed about significant events. We also remind everyone of the importance of a thorough approach to securing digital assets: using modern protection methods and paying close attention to data safety can help minimize risks and safeguard your finances.
