A person who lost $90 worth of Ethereum got help from the police and cyber experts to stop the hacker from using Tether (USDT).
The victim, called L3yum on Twitter, got their stolen money back. L3yum got the hacker’s secret code and took back their wallet on March 16. They turned a lot of the stolen money into USDT. The wallet also had other types of money from small projects and special digital items called NFTs that were related to Yuga Labs.
On August 11, L3yum posted on Twitter that they had blocked the hacker’s USDT address on Ethereum. They worked with the police and experts to do this.
L3yum said, “I stopped the money that was changed to USDT.” Right now, the 90 ETH they lost was worth about $166,000. The blocked wallet had about $107,306 in USDT. This means L3yum might get back a lot of their stolen money.
Blocked USDT to be Destroyed
Whether the victim will get their money back is not confirmed yet. In similar cases before, when a USDT address faced blacklisting like this, Tether has destroyed the blocked USDT and given the same amount to the rightful owner. It’s important to mention that usually, a court order is needed for Tether to blacklist a USDT address.
When asked if the frozen funds will be returned, L3yum mentioned that it might be a possibility in the future, but it’s not approved yet. They said, “I’m not entirely sure, but from what I understand, this is how it works. The blocked funds are basically burned. However, don’t only rely on what I’m saying, that’s just what I think.”
The way the hacker got the victim’s hot wallet seed phrase is still unknown. Many believe that the victim might have changed their SIM card and mistakenly saved the seed phrase on iCloud or used the wallet on multiple devices.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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