Notorious ‘Blockchain Bandit’ Consolidates $115M ETH Haul After Two-Year Silence

Notorious hacker reactivates wallet containing stolen ETH worth millions, raising concerns in crypto community

  • Blockchain Bandit has moved 51,000 ETH to a single multi-signature wallet after two years of inactivity.
  • The transfers occurred in multiple 5,000 ETH batches within a 24-minute window on December 30.
  • The Hacker acquired the funds between 2016-2018 by exploiting weak private keys.
  • Blockchain investigator ZachXBT identified and reported the consolidation movement.
  • The total value of the consolidated ETH exceeds $120 million at current market prices.

Notorious Ethereum Hacker Consolidates $120M Holdings

- Advertisement -

A cryptocurrency attacker known as the Blockchain Bandit has consolidated 51,000 ETH ($120 million) into a single multi-signature wallet, marking their first significant on-chain activity since 2022. The movement, detected by blockchain investigator ZachXBT, occurred through a series of methodical transfers on December 30, 2023.

Strategic Fund Movement

The hacker transferred the funds from 10 different addresses to a multi-signature wallet (0xC45…1D542) between 8:54 PM and 9:18 PM UTC. According to ZachXBT’s analysis, the transfers were executed in systematic 5,000 ETH batches, suggesting a coordinated consolidation strategy.

Historical Context and Method

Between 2016 and 2018, the Blockchain Bandit accumulated their ETH holdings through a unique attack vector: exploiting weak private keys. Private keys, which function as cryptographic passwords for cryptocurrency wallets, became vulnerable when users generated them with insufficient randomness or complexity.

The attacker developed a system to identify and target these susceptible wallets, effectively guessing their private keys through computational methods. This technique, while relatively simple, proved highly effective during Ethereum’s early years when wallet security practices were less sophisticated.

The recent consolidation raises questions about potential future movements, as large cryptocurrency holdings often attract market attention when concentrated in single addresses.

✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest News

UAE Denies TON’s Golden Visa Offer for $100K Staked Toncoin

The Open Network (TON) announced a program offering 10-year UAE Golden Visas to applicants...

Putin: 90% of BRICS Transactions Now Settled in Local Currencies

BRICS confirmed that 90% of all transactions among member countries are now settled in...

Bitcoin, Major Cryptos Jump as US Eyes Trade Deals Before Tariff Deadline

Major cryptocurrencies increased Sunday following comments from U.S. Treasury Secretary Scott Bessent about imminent...

XRP Poised for $5 Surge by 2027 After SEC Win and ETF Hopes

Ripple’s XRP token reached $2.23 in July 2025 after rising over 640% since July...

Must Read

5 Best Crypto Jobs Sites To Land Your Next Six Figure Job

The cryptocurrency and blockchain job market has exploded. With new blockchain start-ups and projects being founded at a blistering pace, the demand for workers...