Recentblockchainanalysishasuncoveredalinkbetweenthetwobigcryptohacks,includingBingXandIndonesia’sbiggestcryptoexchangeIndodax.Asperthelatestsecurityreports,theexploiterswhoperformedtheIndodaxbreachandtheBingXexploit,haveutilizedthesamewalletaddressformoneylaundering.
🚨AccordingtoMistTrack’sanalysis🔎,thereappearstobeaconnectionbetweenthe#IndodaxHackerand#BingXHacker.🤔
Theyusedthesameaddress(0x0c74c11443e60e011f884f547729127380ca1992)formoneylaundering.IndodaxHackerwason#Polygon,whiletheBingXHackeroperated…pic.twitter.com/IdAwwh8OkB
—MistTrack🕵️(@MistTrack_io)October23,2024
TheSharedWalletAddressUsedinBingXandIndodaxExploitsRaisesSignificantConcerns
Thesharedaddress“0x0c74c11443e60e011f884f547729127380ca1992”reportedlyemergedasacriticalpieceofevidenceconnectingthesehacks.Thissignifiesthatthesamegroupordiversepartiesjoininginacoordinatedendeavormayhaveconductedboththeseevents.InthehackofIndodax,theattackeractivelyutilizedthePolygonnetwork.Nonetheless,BingXhackersusedtheBinanceSmartChainforthispurpose.However,bothpartiesemployedrefinedmethodstoshiftandobscurethestolenassets’flow.
IndodaxreportedlysufferedasignificantbreachbackinSeptemberthisyear.Onthe10thofSeptember,maliciousoutflowstookplaceasthehackerssiphonedoffnearly$22Mincryptoassets.Theseassetstookintoaccounttwenty-five$BTC,accountingfor$1.4Mand$14MinEthereumalongwithothertokens.Whilerespondingtothis,Indodaxsuspendedtheoperationsthereoftopreventanyfurtherlosses.Itsubsequentlystartedmaintenanceofthesecurity.Theplatformhassincepledgedtoreimburseimpactedconsumers.
ThelinkbetweenBingXandIndodaxhacksbecameevenmoreprominentinlinewiththescaleofattacks.TherecentreportshighlightedthatBingX,whichservesasacryptoentityaroundtheglobe,experiencedanoteworthybreach.CryptoexpertspointedoutsuspiciousactivityregardingBingXontheBinanceSmartChain.ThisledtotheidentificationofthesamewalletaddressthattheIndodaxhackerwasusing.
TheIncreasinglySophisticatedTechniquesofSuchHacksIndicatetheNeedforAdequateBlockchainSecurityMeasures
Thediscoveryofthissharedwalletaddressengagedinthese2majorcryptohackshasmountedconcerns.Itindicatesthatcybercriminalsareusingincreasinglysophisticatedmethodswhileaimingatthecryptoexchanges.Thereisalsoapossibilityofcoordinationbetweenthetwodifferenthackersbehindtheseincidents.However,atleast,bothutilizedsharedtechniquestoleveragesecurityvulnerabilities.Keepingthisinview,thepatternofbig-scalecryptoexploitskeepsdisruptingtheindustry.Thus,ithighlightstheneedforenormoussecuritymeasuresaswellascross-bordercooperationtoeliminatecybercrime.
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