Scammer steals over $50k in crypto from the DEA

August 26, 2023 04:20 AM AEST | By Invezz

Scammer steals over $50k in crypto from the DEA — Image source: Invezz

How did the scammer pull it out?

The scammer started by carefully monitoring the DEA’s blockchain address until the DEA started a forfeiture operation, wiring a test amount of $45.36 to the US Marshals Service.

The scammer captured the transaction information and used it to build a clever scheme. They sent crypto to the DEA from a crypto address that mirrored that of the Marshals Service. The fake crypto address replicated the first five and last four digits of the original Marshal’s address.

The DEA fell for the trick and transferred $50,000 to the fake crypto address.

Attempts to recover the stolen crypto

The Marshals Services was, however, quick to notice the fraud and immediately informed the DEA, which moved swiftly and contacted Tether to freeze the transaction. But unfortunately, it was too late since the funds had already found their way out.

The DEA didn’t give up, it sought the assistance of the FBI to trade the funds which had since been converted. The investigations led the two organizations to an Ethereum wallet address. Further, two Binance accounts suspected of funding the scammer’s Ethereum network transaction fees were also identified, although the true identity of the scammer remains unknown.

The theft served as a stark reminder of the extent to which modern-day hackers go to steal funds from the ever-evolving crypto space. It underscores the importance of caution even for formidable organizations like DEA.

The post Scammer steals over $50k in crypto from the DEA appeared first on Invezz.

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