BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Victim Poised to Recover Stolen Ethereum after Hacker’s Wallet Blacklisted

by Dan K
Aug 12, 2023 - 3:00 pm
in Blockchain
Image depicting a digital representation of the CoinsPaid cybersecurity breach, showcasing symbols of cryptocurrencies like Binance and Ethereum.

The Heist and Initial Loss

On March 16, the crypto community was abuzz with the news of L3yum’s unfortunate loss. The victim, recognized by their pseudonym L3yum on X (formerly Twitter), faced a significant loss after a hacker compromised their hot wallet seed phrase. In this sophisticated attack, the criminal did not only target Ethereum. They pilfered various assets, including Yuga Labs-related NFTs and other tokens from minor projects. These assets were quickly traded or sold, making immediate recovery seem nearly impossible.

Blacklisted and Halted

However, things took a turn for the better on August 11. In a detailed X thread, L3yum shared a hopeful update: authorities had successfully blacklisted and frozen the hacker’s Ethereum-based USDT address. This intervention was the result of L3yum’s diligent work with the police and a specialized cyber team in their country.

Financial Implications

With the current market rate, 90 ETH amounts to an approximate value of $166,000. The frozen USDT in the blacklisted wallet stands at a value of $107,306. This discrepancy in amounts indicates that, while L3yum may be on the path to a significant recovery, it might not encompass the full value of the stolen funds.

Potential Reimbursement?

Instances in the past offer a shimmer of hope. Historically, when a USDT address faces blacklisting under similar circumstances, Tether has undertaken to burn the blacklisted assets and re-issue an equal amount to the legitimate owner. Most of these actions, it’s essential to note, are usually precipitated by a court order.

L3yum, while optimistic about the outcome, remains unsure about the exact process. They shared in a comment, “From my understanding, the blacklisted funds get burnt. However, this is based on my limited knowledge, so take it with a grain of salt.“

Mystery Remains

The actual method used by the hacker to obtain L3yum’s seed phrase remains a topic of speculation. Some believe it could have been a SIM-swap, an inadvertent iCloud backup of the seed phrase, or L3yum accessing their wallet on multiple devices, thereby exposing their private information.

For now, the community waits and hopes for a positive resolution, and the incident serves as a stark reminder about the importance of robust digital security.

Tags: BlockchainHackWallet
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Malta Financial Services Authority building representing crypto regulation leadership

Malta Regulator Assures MiCA Licenses Safe After EU Peer Review

July 11, 2025

Malta’s MFSA says no MiCA licenses are at risk after an EU review, reinforcing the country’s strong stance...

Malta’s MFSA headquarters under scrutiny from ESMA for MiCA licensing issues

EU Regulator Flags Deficiencies in Malta’s RegulatorLicensing Process

July 10, 2025

Malta’s MFSA “partially met expectations” in its MiCA license process, according to an ESMA report urging tighter crypto...

Venn Network researchers work together to neutralize a $10M backdoor exploit in smart contracts linked to DeFi protocols.

Researchers Foil $10M DeFi Backdoor Attack, Suspected Link to Lazarus Group

July 10, 2025

Researchers foiled a $10M DeFi attack by neutralizing a backdoor exploit in smart contracts, potentially linked to the...

OKX and Circle announce zero-fee USDC to USD conversions, offering smoother crypto trading experiences for users globally.

Circle and OKX Launch Zero-Fee USDC Conversions to US Dolla

July 9, 2025

OKX and Circle partner to offer zero-fee USDC to USD conversions, enhancing liquidity and simplifying the process for...

Press Releases

png 115

BTC Miner: Earn $100-$100,000 Daily – The Fastest Growing Crypto Mining Platform of 2025!

June 25, 2025

BTC Miner, the fastest growing platform in 2025, opens a new era of inclusive cryptocurrency mining, allowing everyone to participate...

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise