Bnb Hacker Becomes The Fourth-Largest Holder Of Rocket Pool'S Reth

BNB Hacker Becomes The Fourth-Largest Holder Of Rocket Pool’s rETH

PeckShield, a blockchain security company, recently reported that a BNB bridge exploiter had moved a substantial amount of cryptocurrency to a new wallet, 0x5313. This move has made the account the fourth largest rETH whale of Rocket Pool.

The report stated that the transferred assets include 43,228 stETH, valued at around $70 million, 1,679 rETH from Rocket Pool worth $2.9 million, and 771 ETH worth $1.27 million.

Additionally, the account made a swap of $7 million in crypto assets, exchanging 6.2 million USDC and 472 ETH for 3,990 rETH.

BNB Exploiter: The Fourth Largest rETH Holder

The 0x5313 has become one of the major players in the world of staked Ethereum, boasting a stunning $82 million worth of liquidated ETH staked through the top two platforms. This impressive feat was achieved by holding 39,000 Wrapped LDO and stETH and 5,700 RocketPool staked ETH.

With a rETH portfolio worth a whopping $10 million, the 0x5313 is now the fourth largest owner of rETH. It’s interesting to note that staked ETH through RocketPool and Wrapped Lido are being traded at a higher value compared to ETH itself.

Bnb Hacker Becomes The Fourth-Largest Holder Of Rocket Pool'S Reth
Source: etherscan

Last October 2022, the BNB bridge was targeted by the 0x5313, who cleverly exploited a bridge vulnerability to make off with 2 million BNB tokens valued at over $500 million.

Binance recently had to take action and temporarily halt the BNB Smart Chain to prevent a hacker from moving stolen funds.

Unfortunately, the attacker was able to get away with around $100 million worth of assets before the rest were frozen. The hacker has been using decentralized protocols to continue moving their stolen funds.

According to Arkham Intelligence, the address used 1INCH to swap 33,000 ETH (valued at $50 million) for stETH.

The address then received two transactions worth 8.9 million in stETH from 0x68EA8. The hacker then transferred most of their assets to 0x5313 before finally moving 0.2 ETH to 0x4Ad.

These fund transfers appear to be an attempt by the hacker to cover their tracks and make their transactions harder to track.

It could also be a way for the hacker to minimize their losses after losing 7.18 million JUSDTNative due to the liquidation of their AVAX position.

The DeFi space has been relatively quiet this year regarding exploits. PeckShield reported that there were only $8.8 million in crypto losses from exploits in January, which is a 93% decrease from the previous year.

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