News 
January 1, 2025 
3 min. 
A new turn of recent developments has been noted in a grafter case of a mega theft in the crypto world. Crypto sleuth ZachXBT claims that this notorious hacker known as the Blockchain Bandit has recently moved a large amount of the stolen, as the attacker moved 51,000 ETH amounting to over $ 172 million from 10 different wallets into one multi-sig wallet. This has caught many attention in the crypto space and most are wondering why this has happened of all times after years.
Who is the Blockchain Bandit Hacker?
If you are new to crypto, you may not be aware of the name “ Blockchain Bandit”, but for those who have been around since 2018, this hacker was one of the most famous and worrisome people in the space. ZachXBT’s investigation reveals that the wallets involved in the last transfer were last used in 2018. In other words, the attacker is using these funds for the first time in over five years.
The blockchain bandit gained notoriety for compromising weak private keys on the Ethereum blockchain. In 2014 alone, the attacker stole millions of dollars worth of cryptocurrency by guessing or scanning keys that were often poorly or randomly generated.
Why is the Attacker Active Again After Five Years?
After such a long period of inactivity, many are questioning why the Blockchain Bandit is active again now. While some of the wallets involved in the latest move were used as recently as January 2023 to purchase Bitcoin, today’s transfer stands out. This marked the largest consolidation of stolen ETH from the attacker’s collection.
One theory is that the hacker is preparing for a larger series of transactions. Moving the funds into a multi-signature wallet could indicate that they are getting ready to launder the stolen ETH. This could involve using mixers, decentralized exchanges, or other methods to hide the origins of the funds.
