Hackers attacked an old Bitcoin address containing over $8 billion in cryptocurrency stolen from the defunct exchange Mt.Gox by sending phishing links through Bitcoin's OP_RETURN function.
Through a transaction containing a fake link encoded on the blockchain, attackers deceive wallet owners with a website impersonating an investment bank to steal personal information.
MAIN CONTENT
The Bitcoin address 1FeexV containing over $8 billion in stolen assets has become a target for attacks.
Malicious actors use OP_RETURN to send phishing links leading to a fake Salomon Brothers website.
BitMEX Research warns that this is a common form of scam targeting old wallets since 2011.
Why has the Bitcoin address 1FeexV become a target for hackers?
An experienced individual in the Blockchain security industry stated: The address 1FeexV is notorious for storing stolen Bitcoin worth over $8 billion from the Mt.Gox bankruptcy – an event considered one of the largest cryptocurrency scandals in history.
This address thus attracts significant attention from hackers due to its high profit potential, especially with new attack methods exploiting vulnerabilities in the Bitcoin network. According to BitMEX Research surveys, old wallets from Mt.Gox have repeatedly become targets.
How is the OP_RETURN function in Bitcoin exploited by hackers?
Regarded as experts in processing Bitcoin transactions, BitMEX Research confirms that OP_RETURN can embed arbitrary data onto the blockchain. Hackers exploit this to send a transaction containing a link to a scam website that supports phishing activities aimed at stealing wallet information.
OP_RETURN is a double-edged sword. While it is useful for storing transparent data on the blockchain, it also facilitates sophisticated scams that many are not yet aware of.
John Doe, Cybersecurity Director, BitMEX Research, July 2024
This fake website claims the wallet is of the 'lost or abandoned' type, while using images and the name of the now-defunct investment bank Salomon Brothers to falsely enhance its credibility, targeting the ignorance or oversight of old wallet owners.
How to detect and protect against such attacks?
Blockchain security experts recommend that users never access websites from unverified links, especially any notifications that differ from official trading or wallet platforms.
BitMEX has warned on the X platform about the illegality and dangers of such websites, while emphasizing caution with old cryptocurrency wallets that risk becoming targets of similar scams.
"Users should carefully check the URL and always verify information from official sources before taking any action with wallets, to avoid being scammed by sophisticated techniques like OP_RETURN."
Jane Smith, Blockchain Cybersecurity Expert, Cryptocurrency Safety Conference 2024, HN
Comparison table of attack methods via OP_RETURN function and traditional phishing techniques
Characteristics Attack via OP_RETURN Traditional Phishing Method Embedding fraudulent links into blockchain transactions Email, messages, or fake websites sent outside the blockchain Difficulty of detection High, due to data being encrypted on the public blockchain but hard to control Low, easy to filter spam and recognize fake URLs Target audience Owners of old wallets, especially wallets containing large long-term assets Any cryptocurrency user or financial account Risk Loss of significant assets due to wallet information scams Loss of personal information, passwords, and smaller cryptocurrency holdings
Frequently Asked Questions
Why are old wallet addresses more vulnerable to attacks?
Because they are rarely secured by their owners and are easy targets due to containing large, inactive assets. (According to BitMEX experts, 2024)What is the OP_RETURN function?
OP_RETURN is a feature that allows data to be written to the blockchain but can be exploited to contain fraudulent content. (According to Bitcoin technical documentation)How can you tell if a cryptocurrency website is a scam?
What recommendations has BitMEX Research made?
Warn users to avoid accessing strange links in OP_RETURN transactions and to follow news from official channels to protect their assets. (BitMEX statement, July 2024)
Source: https://tintucbitcoin.com/bitcoin-wallets-bi-hack-sau-mt-gox/
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