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Europol arrested Suspects of EUR 10 million in IOTA theft – Coin Hero

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Europol arrested Suspects of EUR 10 million in IOTA theft

Home News Europol arrested Suspects of EUR 10 million in IOTA theft

Of
Marcus Misiak –
25.01.2019

Police officials of the British South East Regional Organised Crime Unit (SEROCU) have arrested a 36-year-old British in Oxford, which was identified by their German colleagues of the Hessian police as a suspect in the theft of more than 10 million euros in IOTA in January 2018.

In a statement, which was published on the Europol Website, it was found that the unnamed Suspect has used a malicious IOTA Seed Generator to get over the course of six months, starting in August 2017, a Backdoor access to the Wallets of the users, leading to the attack on the 19. January 2018, when he started in the Wallets of the users to log and transfer without the Knowledge of IOTA.

The Background

All users of the IOTA Wallets need to be able to this easy to use, an 81-long, Seed to generate. A large part of the robbed users of the website iotaseed use in January 2018.io to create this Seed. Turns out, it was exploited this error to the user. Of exactly those users have generated your Seed on this page, were IOTA funds stolen. The IOTA network is according to official figures, sure, there is no fault within the network.

The error was in the Affected itself, since you have created on the website will automatically IOTA-Seed, and thus the scammers in the open hands have been played. The Seed is the master key to the Wallet, with the the complete balance. For the operators of these fraudulent sites so it was easy, picked the Seeds, the Wallets empty out.

To gain trust, turned out to be the Hacker under the Pseudonym “Norbertvdberg” known as a true member of the IOTA Community, offered IOTA-users support and linked them with iotaseed.io, the allegedly random and unique 81-digit Seeds.

He even created a GitHub Repository, supposedly the source code of iotaseed.io contained, and knew very well that most users would check the Code never really. Actually produced iotaseed.io only predictable Seeds, the Hacker logged secretly for six months.

After he had decided that he had collected enough Seeds, joined Norbertvdberg on 19. January in action, a logged in 85-user Wallets, and gave IOTA to the value of about 10 million euros in the controlled Wallet.

To The Arrest Of

The arrest should be the result of a months-long investigation starting in January 2018. Ultimately, should but will have to be trial to its digital fingerprint by Deleting his Profiles on Reddit, Quora, and GitHub to the crucial note. The arrest took place in the British city Oxford, where the Suspect of the local police and a unit of the South East Regional Organized Crime Unit was arrested.

In a press release, Europol also reported about the seizure of several electronic devices that contained information and evidence for the participation of the hacker in the above-mentioned theft.

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