Crypto Detective ZachXBT Identifies Alleged PrismaFi Hacker Behind $11.1 Million Theft
Crypto detective ZachXBT has made a groundbreaking discovery in the world of cryptocurrency theft, uncovering the alleged hacker behind the PrismaFi hack that resulted in an $11.1 million loss for the protocol. Through a series of meticulous investigations, ZachXBT identified the exploiter known as 0x77 (or Trung), linking them to multiple other exploits in the crypto space.
The Prisma team first noticed suspicious activity on the MigrateTroveZap contract in March, leading to the significant loss of 3,257 ETH. Initially, the attacker tried to pass off the hack as a whitehat initiative, but all funds were eventually funneled into Tornado Cash, a crypto mixer known for its anonymity.
What sets this case apart is the exploiter’s audacious demands, including a staggering $3.8 million whitehat bounty, far exceeding the industry standard. This move was seen as an attempt to extort the Prisma team, as their treasury lacked the necessary assets to reimburse affected users.
Further investigation by ZachXBT revealed that the exploiter’s address received funds through FixedFloat and was traced to Arbitrum, a layer-2 solution on Ethereum. By analyzing transaction timings, connections to TRON withdrawals and previous exploits like Arcade_xyz and Pine Protocol were uncovered, solidifying the link between each incident.
The hacker, operating under the alias 0x77 on Telegram, was found to have ties to the deployer of @modulusprotocol, indicating a network of individuals involved in these malicious activities. ZachXBT’s analysis of the exploiter’s personal information, including phone numbers and emails, pointed to a skilled technical background.
In response to these findings, the Prisma team has taken legal action against the hacker in Vietnam and Australia, with ZachXBT providing all gathered personal data to aid in the pursuit of justice. This revelation sheds light on the dark underbelly of the crypto world and the ongoing battle against malicious actors seeking to exploit vulnerabilities for personal gain.
