Analyst Claims $4.3M Drained in Multi-Token Wallet Exploit

[cryptobro]

Onchain investigator Specter alleged that a compromised private key may have enabled attackers to drain approximately $4.3 million from the affected wallet. According to the analysis, assets including USDC, USDT, IOTX, and wrapped Bitcoin were swiftly swapped into Ether (ETH), with roughly 45 ETH later bridged into Bitcoin in an apparent effort to obscure the trail.

Transaction records show rapid token swaps and movements through decentralized exchanges, suggesting a coordinated attempt to move funds across chains and complicate recovery. The addresses linked to the suspected attacker have been publicly shared as part of ongoing tracking efforts.

[madtrader]

swapping stables + iotx into eth first makes sense for liquidity. eth pairs are deep and fast. bridging 45 eth to btc after is just layering.