The crypto community was shocked by the news of a massive hack on BitBrowser, a platform that allows users to participate in airdrops and earn tokens. The hackers managed to steal about $386 million worth of Ethereum and other cryptocurrencies from the platform’s servers, according to SlowMist, a prominent blockchain security firm.
According to a tweet by Colin Wu, a well-known Chinese crypto journalist, the hackers have recently transferred 236.27 ETH, or about 70.6% of the total stolen funds, to a crypto mixer service called eXch. Crypto mixers are used to hide the origin and destination of funds by mixing them with other transactions.
Wu cited SlowMist, a leading blockchain security firm tracking the hackers’ movements. SlowMist revealed that the hackers had previously moved some funds to various exchanges, including Binance, ChangeNow, and FixedFloat. They also sent funds to different blockchain networks, such as Ethereum, zkSync Era, Arbitrum, and Optimism.
BitBrowser acknowledged the security breach in an official statement and urged users to change their passwords and revoke their authorization on the platform. The platform also claimed that it was working with law enforcement agencies and security experts to recover the funds and catch the culprits.
BitBrowser Hackers Ignore Bounty Offer
Interestingly, the hackers displayed a curious disregard for a tempting incentive provided by BitBrowser. Despite the enticing promise of a $1 million bounty for any vital lead leading to their arrest and the recovery of the funds, the hackers chose to overlook it altogether.
BitBrowser had reached out to them via an on-chain message to their address, granting them 24 hours to return 90% of the funds or face dire legal consequences. Shockingly, they defied this request and instead transferred their ill-gotten gains to eXch in what can be assumed was an attempt to cash out discreetly.
It is worth noting that throughout the fraudulent activities they were involved in, they displayed a modicum of compassion by returning a small portion of Ethereum (ETH) back to one victim who had pleaded for mercy via on-chain appeals amidst the perpetrators’ fraudulent activities.
This high-profile breach executed against BitBrowser stands as one of history’s most substantial cryptocurrency heists, effectively underscoring the inherent risks associated with centralized platforms responsible for storing both users’ sensitive data and financial holdings.