Back Cryptorank Kraken User Loses $18.2M in Social Engineering Scam; Funds Moved via THORChain
- Kraken user lost $18.2M in a suspected social‑engineering scam; attacker began moving funds 45 minutes after the compromise. - On‑chain tracing (ZachXBT) shows an 878 ETH swap (~$1.8M) and cross‑chain bridge via THORChain to 26.6 BTC, with a SafePal wallet used to obscure the trail. - Signals rising security risk for CEX users and DeFi/bridge abuse for laundering; underscores need for stronger crypto custody and anti‑social‑engineering measures.
A crypto user on the Kraken exchange has lost $18.2 million in a suspected social engineering scam, according to on-chain investigator ZachXBT.
Notably, ZachXBT revealed that the threat actor began moving funds roughly 45 minutes after the compromise, bridging assets from Ethereum to Bitcoin using THORChain. The attacker utilized a SafePal wallet during the process.
On-chain data shows an initial swap involving 878 ETH worth approximately $1.8 million at the time. The transaction was later completed, converting the funds into 26.6 BTC.
The movement of funds across chains suggests an attempt to obscure t…
Read The Full Article Kraken User Loses $18.2M in Social Engineering Scam; Funds Moved via THORChain On Coin Edition .
- Kraken user lost $18.2M in a suspected social‑engineering scam; attacker began moving funds 45 minutes after the compromise. - On‑chain tracing (ZachXBT) shows an 878 ETH swap (~$1.8M) and cross‑chain bridge via THORChain to 26.6 BTC, with a SafePal wallet used to obscure the trail. - Signals rising security risk for CEX users and DeFi/bridge abuse for laundering; underscores need for stronger crypto custody and anti‑social‑engineering measures.
A crypto user on the Kraken exchange has lost $18.2 million in a suspected social engineering scam, according to on-chain investigator ZachXBT.
Notably, ZachXBT revealed that the threat actor began moving funds roughly 45 minutes after the compromise, bridging assets from Ethereum to Bitcoin using THORChain. The attacker utilized a SafePal wallet during the process.
On-chain data shows an initial swap involving 878 ETH worth approximately $1.8 million at the time. The transaction was later completed, converting the funds into 26.6 BTC.
The movement of funds across chains suggests an attempt to obscure t…
Read The Full Article Kraken User Loses $18.2M in Social Engineering Scam; Funds Moved via THORChain On Coin Edition .
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