Source: blockchain.news
According to PeckShield, a blockchain security firm, a hacker stole $950,000 worth of Ether (ETH) from an Ethereum “vanity address” generated using a tool known as Profanity. The matter was reported on Monday.
The hacker stole 732 Ethereum on Sept. 25 and sent it to the authorized Cyclone Money digital currency pooling administration, PeckShield on-chain data indicates. Here, the funds were mixed with other cryptocurrencies and withdrawn to the programmer’s own wallet.
The hack was carried out through weaknesses associated with the popular Profanity courtesy address generator. While Vanity Addresses are done through a tool called Obscenity, this strategy for generating Vanity Addresses makes them easier to penetrate through a beast force attack. Penetration requires a ton of processing power and can be countered by the amount of crypto money in the wallet.
After the attacks, the developer team behind Profanity took steps to ensure that no one continued to use the tool.
The exploit was done in a similar way to Wintermute last week. On Tuesday, September 20, UK-based algorithmic crypto market creator Wintermute was hacked and lost $162.2 million in DeFi trades. A vulnerable private key generated by the Profanity app was attacked in the Wintermute hack.
The Profanity vulnerability has been known since January. Still, the decentralized exchange 1inch Network revealed the apparent risk on Sept. 13 and warned members of the Twitter crypto community about the risks facing Profanity wallets.
Last week, on September 18, attackers executed a similar hack in which they stole $3.3 million worth of crypto from users of a vanity Ethereum wallet. The hacker managed to steal the tokens from various Ethereum addresses that were generated using the Profanity tool.
According to cybersecurity company Certik blockchain, around $273.9 million has been lost this year due to compromises. private keyswhich makes the method one of the biggest attack vectors.
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