In the unpredictable landscape of cryptocurrencies, unexpected and complex incidents often occur. On May 3, 2024, one such incident unfolded when a victim of a “Dust” attack lost 1,155 wrapped bitcoins (wBTC), worth $68 million. Thanks to the quick and coordinated efforts of specialists from Match Systems and the cryptocurrency exchange Cryptex, all stolen funds were immediately returned to the owner.
Incident overview
On that day, a major cryptocurrency holder suffered a classic “dusting” attack, also known as a “dandruff attack.” The scammer was able to transfer $68 million worth of cryptocurrency to a specific address, 0xd9A1C3788D81257612E2581A6ea0aDa244853a91, before distributing the funds across several censored addresses.
Rapid response and recovery
Immediately after discovering the theft, the victim sought help from Match Systems, a company specializing in blockchain investigations and financial crime prevention. The prompt and effective work of its experts ensured that all stolen assets were traced and returned within a week.
Critical insights
Match Systems discovered important information that significantly strengthened the victim's position during negotiations. The team's detailed analysis of the incident revealed the hacker's IP address and other key details, quickly leading to the identification of the perpetrator. This intelligence provided the victim with a significant advantage, resulting in the hacker agreeing to return most of the stolen funds.
Through intense and rapid negotiations involving Match Systems and Cryptex, the hacker returned 22,960 ETH, representing more than 96% of the stolen funds in dollars.
Understand the attack
The "Dust" attack was carried out automatically, and was carried out using specialized software. The hacker, who was surprised by the unexpectedly large amount stolen, felt uncomfortable holding such a large amount. This discomfort likely facilitated the success of the negotiations and the return of the funds.
conclusion
This incident highlights the importance of seeking expert help immediately after a cryptocurrency theft occurs. The sooner victims seek help, the greater their chances of recovering stolen assets. In this case, the efforts of Match Systems and Cryptex enabled the victim to recover their assets and avoid significant financial loss.
Match Systems continues to lead the fight against financial crime in the cryptocurrency sector, constantly helping clients protect and recover their digital assets.
