Hacking Targeting Wallets Dormant for Years on the Rise...$800,000 in Ethereum 'Evaporates' in Organized Attack

▲ Ethereum (ETH) / ChatGPT Generated Image

Market security concerns have resurfaced as an organized attack occurred, with long-neglected Ethereum (ETH) wallets being simultaneously hacked.

According to cryptocurrency specialized media Cryptopotato on May 1st (local time), a 'real-time drain attack' was confirmed, where funds were sequentially withdrawn from hundreds of Ethereum wallets that had been inactive for years, in a manner linked to the same attacker address.

The damage caused by this attack is estimated to exceed $800,000. Notably, many of the hacked wallets were old wallets that had not been used for over 7 years.

On-chain analysts believe that the attack was not random but conducted as a pre-planned 'organized campaign'. The repeated use of the same fund movement patterns and attacker addresses suggests the possibility of a precise attack targeting specific vulnerabilities.

The main cause is identified as previously exposed private keys. It is analyzed that keys that had been leaked externally and left neglected for a long time were intensively exploited in this attack. This is considered an example demonstrating that early user wallets with inadequate security management can become targets of attacks over time.

The market reaction suggests that this incident goes beyond a simple hack and has become an opportunity to re-examine the security risks of long-term stored assets. In particular, warnings are spreading that security checks and management are necessary even for old wallets or unused accounts.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*