Stolen WBTC Being Converted To ETH By Phishing Group

According to BlockBeats, a phishing group has been dispersing and converting stolen Wrapped Bitcoin (WBTC) into Ethereum (ETH). The WBTC was initially lost due to a 'poison attack' on a single address. The group has already converted 827 WBTC into 15,389 ETH, equivalent to approximately $47.25 million. There are still 328 WBTC, worth about $20.20 million, stored across four different addresses.

Previously, BlockBeats reported that an address had lost 1,155 WBTC, equivalent to around $68 million, due to a suspected 'poison attack'. The stolen WBTC has since been dispersed and moved to eight different addresses. The phishing group is currently in the process of converting the remaining WBTC into ETH.