Hacker returns £20m cryptos two days later after stealing from dForce
Mysterious hacker returns £20m in crypto-currencies after ‘stealing’ it from Chinese trading platform dForce
- The hacker allegedly managed to steal £20million worth of assets on Sunday
- But the attacker mysteriously returned all the crypto money today, reports say
- Chinese platform dForce is an online exchange service for crypto-currencies
A mysterious hacker has reportedly returned £20million worth of stolen funds to a Chinese crypto-currency exchange platform dForce after keeping them for two days.
A sum of $25million (£20million) funds in a variety of crypto-currencies was illegally drained from the trading site on Sunday, according to the founder of dForce.
But in a baffling plot twist, the web attacker has returned all the stolen crypto money today, according to various media reports.
A mysterious hacker has reportedly returned £20million worth of stolen funds to a Chinese crypto-currency exchange platform dForce after two days. FILE PHOTO: Representations of virtual currency Bitcoin and U.S. dollar banknotes
The Chinese network dForce is an online service that allows users to make crypto-currency transactions with one another.
The platform founder Mindao Yang wrote a blog post shortly after the attack took place on April 19.
He explained that the attacker was able to withdraw funds by manipulating the system to falsely increase the amount of crypto-currencies in their account and draining it all before the balance is updated, according to an analysis from PeckShield.
‘The hacker(s) have attempted to contact us and we intend to enter into discussions with them,’ Yang stated.
‘We are doing everything in our power to contain the situation,’ He continued. ‘This attack not only harmed our users, our partners, and my co-founders, but also me personally. My assets were stolen in this attack, too.’
In a new plot twist, the web attacker perplexingly has returned all the stolen crypto money today, according to various media reports. The file photo shows a hacker stealing information
In a separate post yesterday, Yao declared that ‘nearly all of the stolen funds have been recaptured’.
‘It’s with great relief that I report that nearly all of the stolen funds have been recaptured through the efforts collaboratively made by our partners, law enforcement, investors, the community, and our team members,’ Yang wrote.
The Chinese founder also promised to give out more details about the attack in a future post.
It is believed that the mysterious exploiter surprisingly returned $2.79million (£2.79million) worth of assets to dForce on Monday and handed back the rest of the funds today in a different mix of crypto-currencies, according to data analysed by The Block Research.
The hacker returned all the funds because their IP address was shared with Singapore police, Sergej Kunz, CEO of crypto network 1inch.exchange, told The Block today.
‘We got a request from Singapore police and we were helping dForce. Based on the request, we delivered to the police the IP addresses and sensitive meta information, which the hacker speeded by using our CDN,’ said Kunz.
WHAT IS BITCOIN AND HOW DOES IT WORK?
What are Bitcoins?
Bitcoin is a cryptocurrency – an online type of money which is created using computer code.
It was invented in 2009 by someone calling themselves Satoshi Nakamoto – a mysterious computer coder who has never been found or identified themselves.
Bitcoins are created without using middlemen – which means no banks take a fee when they are exchanged.
They are stored in what are called virtual wallets known as blockchains which keep track of your money.
One of the selling points is that it can be used to buy things anonymously.
However, this has left the currency open to criticism and calls for tighter regulation as terrorists and criminals have used to it traffic drugs and guns.
How are they created?
Bitcoins are created through a process known as ‘mining’ which involves computers solving difficult maths problems with a 64-digit solution.
Every time a new maths problem is solved a fresh Bitcoin is produced.
Some people create powerful computers for the sole purpose of creating Bitcoins.
But the number which can be produced are limited – meaning the currency should maintain a certain level of value.
Why are they popular?
Some people value Bitcoin because it is a form of currency which cuts out banking middlemen and the Government – a form of peer to peer currency exchange.
And all transactions are recorded publicly so it is very hard to counterfeit.
Its value surged in 2017 – beating the ‘tulip mania’ of the 17th Century and the dot com boom of the early 2000s to be the biggest bubble in history.
But the bubble appears to have now burst and questions remain over what market there is for it long-term.
Some shops and restaurants are accepting for purchases, but overall this is a tiny part of the market of the real economy.
While there are concerns Bitcoins can be hacked.
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