Following the skyrocketing prices of cryptocurrencies since the beginning of this year many silent whales have woken up making major transactions, most recently a blockchain analysis firm reported the awakening of wallets linked to “Blockchain Bandit.”
As per the information of ZachXBT, the wallets linked to the attackers have allegedly sent 51,000 ETH worth over $172 million from 10 different wallets to a single multi-sig wallet.
The available information states that wallets linked with Blockchain Bandit are believed to be active after five years. “Blockchain Bandit” is the nickname of an attacker who often steals digital currency by taking advantage of insecure private keys on the Ethereum blockchain.
By merely guessing the private keys of several weak wallets and stealing millions of dollars, he rose to fame. In order to find wallets protected by weak, non-random, or badly produced private keys, the attacker searched the Ethereum network.
These keys were frequently the consequence of flawed cryptography library implementations or programming flaws.
In general, the crypto industry may be concerned about the potential for such a notorious hacker to resurface.
Whale holders booking huge profits since 2024 beginning!
Indeed, it has been a lucrative year for whale owners. Numerous sizable Bitcoin owners have profited greatly from their trades since the start of 2024.
Ethereum whales have been taking advantage of their gains as well. Furthermore, throughout the current bull cycle, Bitcoin whales have been setting records for profit-taking.
A Bitcoin whale that sold their assets and gained $217 million is one well-known example of a whale generating enormous earnings. After 12 years, another hibernating Bitcoin whale awoke and generated a huge profit, demonstrating the profitable potential of crypto investments.
As per finance experts, the cryptocurrency market will definitely grow at an appreciable pace in the coming future, and it is expected that it might soon reach a market capitalization of $4 trillion, surpassing the GDP of nations like India and others.
Crypto Market Price Updates
At the time of writing the cryptocurrency market capitalization was $3.27 trillion with an intraday decline of 0.83 percent at the same time the crypto market’s volume in the past 24 hours has surged by 36.36 percent to $138.41 billion.
DeFi’s total volume is $10.13 billion, or 8.92% of the 24-hour whole crypto market volume. All stable currencies currently have a combined volume of $128.09 billion, or 95.31% of the 24-hour total volume of the crypto market, the dominance of Bitcoin is 56.71%.
Virtuals Protocol tops the list of intraday gainers as it grew 6.89 percent reaching $3.69, followed by Pepe, FTT token, SUI, Mantle, BNB, and Flare.
Yet the intraday losers are Bitget, Helium, Aave, Movement, Fantom, and Bittensor, among a few others.
Numerous cryptocurrency and financial experts predict that the price of Bitcoin may eventually reach the $150k mark; most recently, it reached an all-time high of over $109k, but it is still trading around $108.3
