Hacking targeting wallets dormant for years on the rise... $800,000 in Ethereum 'evaporates' in organized attack

▲ Ethereum (ETH) / ChatGPT generated image

Organized attacks simultaneously hacking long-neglected Ethereum (ETH) wallets have resurfaced market security concerns.

According to crypto-specialized media CryptoPotato on May 1 (local time), a 'real-time drain attack' was confirmed, where funds were sequentially withdrawn from hundreds of Ethereum wallets that had been inactive for years, in a manner linked to the same attacker address.

The damage caused by this attack is estimated to exceed $800,000. Notably, a significant number of the hacked wallets were old wallets that had not been used for over 7 years.

On-chain analysts believe that the attack was not random but conducted as a pre-planned 'organized campaign'. The repeated use of the same fund movement patterns and attacker addresses suggests the possibility of a precise attack targeting specific vulnerabilities.

The primary cause is attributed to previously exposed private keys. It is analyzed that keys leaked and neglected externally for a long time were intensively exploited in this attack. This case demonstrates that early user wallets with inadequate security management can become targets of attack over time.

The market reacts by stating that this incident has become an opportunity to re-examine the security risks of long-term stored assets, going beyond a simple hacking. In particular, warnings are spreading that security checks and management are necessary even for old wallets or unused accounts.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*