Whale, who fell prey to a phishing attack, successfully reclaimed over $70 million worth of stolen assets from hackers. This remarkable recovery, facilitated through a series of unexpected interactions with the attacker, provides valuable insights into the tactics employed by cybercriminals to pilfer crypto assets.
The incident unfolded on May 3rd when the holder of Wrapped Bitcoin (WBTC) became a victim of a phishing attack. Employing a technique known as address mimicking, the attacker deceived the whale into thinking that they should transfer their funds to an address that closely resembled their own.
Exploiting the striking similarity between legitimate and fake addresses, the phishing attempt capitalized on the whale’s momentary distraction amidst numerous transactions.
Upon discovering the theft, the whale promptly took action to recover the pilfered assets. Although the initial attempt to contact the attacker proved futile, they eventually established communication, and the attacker expressed their willingness to negotiate the return of the funds.
Another crucial player in the swift retrieval of the stolen cryptocurrencies was Match Systems, a cybersecurity agency specializing in safeguarding digital assets. Emphasizing the importance of promptness on the part of victims, the agency underlined the need for taking immediate and appropriate measures to reclaim the complete asset at stake.