Tech
Match Systems Recovers $68 Million in Cryptex Crypto Assets
Correspondence systems recently recovered $68 million in stolen money Cryptex crypto assets as Crypto Whales lost 1,155.28 WBTC in a dust attack. Match Systems recovers $68 million worth 1,155.28 WBTC, or more than $68 million.
As for cryptocurrency theft, Match Systems recovers $68 million the rescue of a crypto whale that lost 1,155.28 WBTC, worth more than $68 million, due to a dust attack.
The stolen crypto assets were transferred to an anonymous address 0xd9A1C3788D81257612E2581A6ea0aDa244853a91 and finally sent to a different address xfB5bcA56A3824E58A2c77217fb667AE67000b7A6 for distribution. Match Systems helped the victim recover the stolen property in less than a week.
For help in recovering the crypto tokens, the victim immediately contacted Match Systems, and thanks to their immediate action, they were recovered soon.
The case where Match Systems recovers $68 million is a great example of why it is important to get professional help as soon as possible after cryptographic resources theft because it significantly increases the chances of recovering stolen funds. The victim acted quickly and recovered the stolen crypto assets.
An address poisoning (or dust) attack occurs when an attacker tricks victims into moving their resources to a fake address that resembles their own. The attacker creates a “vanity address” with a unique set of characters that resemble their target and spams their wallet addresses with payments.
The victim attempted to uncover the scammer after the attack by offering a 10% reward in hopes of recovering the funds.
Match Systems said: “This incident perfectly demonstrates that timely contacting specialists in case of theft of crypto assets significantly increases the chances of the victim of crypto fraud to recover them.”
It should be noted that since blockchain addresses and balances are publicly available on block explorers, sending fake transactions to these addresses is relatively easy for scammers.
Match Systems investigators have indeed tracked the illegal transfer of Cryptex crypto assets and in the end the perpetrators involved were found.
Match Systems reports that the more recent the victims of incidents such as addressing poison alert specialists, the more likely they are to recover the stolen funds.
According to the company, 70% of victims are likely to recover their assets if they report an incident within an hour; 60% of cases are likely to be recovered if reported within 4 hours; and 50% of cases are expected to be recovered within 24 hours.
However, Match Systems recovers $68 million but did not disclose how it managed to recover the funds from the attackers and information about the scammer.
Match Systems provides anti-money laundering (AML), blockchain inquiries and compliance processes for cryptocurrency projects around the world. Match Systems’ expertise in financial crime detection helps organizations address regulatory issues and mitigate risks related to digital currencies.