Hacker Sells $2.11 Million in Stolen Crypto Assets
1min read On April 27, 2025, it was reported that the hacker who stole $23 million worth of assets from Bitrue in April 2023, resurfaced a year later to sell the stolen assets on-chain. The hacker sold 150 billion SHIB for 1,090.4 ETH, equivalent to approximately $1.97 million. Additionally, 135 million HOT were sold for 76.5 ETH, valued at around $0.14 million.
In April 2023, the hacker had initially stolen a variety of assets including ETH, qnt, GALA, SHIB, HOT, and MATIC from Bitrue, which were collectively worth $23 million at the time. The hacker then converted most of these assets into ETH on-chain. In March 2024, the hacker sold 4,207 ETH for 16.345 million DAI, at a selling price of $3,885 per ETH.
This recent activity by the hacker highlights the ongoing challenges faced by cryptocurrency exchanges in securing their platforms and protecting user assets. The sale of such a large volume of SHIB and HOT tokens on-chain raises concerns about market manipulation and the potential impact on the prices of these tokens.
The hacker's actions also underscore the importance of robust security measures and continuous monitoring to detect and prevent unauthorized transactions. Cryptocurrency exchanges must remain vigilant and invest in advanced security technologies to safeguard against similar incidents in the future.
Ask Aime: "Has the hacker's recent sale of stolen assets on-chain affected SHIB's price stability?"
The incident serves as a reminder to users and investors to exercise caution and due diligence when engaging with cryptocurrency platforms. It is crucial to stay informed about the security practices of exchanges and to take necessary precautions to protect personal assets.
