Blockchain investigator ZachxBT has revealed that the hacker responsible for the $140 million breach involving the Brazilian Central Bank has begun washing up funds stolen through cryptocurrency.
His findings show that the attackers behind the Brazilian Bank violations have been converted to crypto assets such as Bitcoin, Ethereum and Tether, between $30 million and $40 million of stolen funds.
Social engineering attacks denounce a $140 million crypto link hack in Brazil
He added that these conversions were carried out through crypto exchanges with CounterAmerica’s Over-The-Counter (OTC) platform.
“I am helping to freeze funds and attribution of invalid OTCs, so I will publish the theft addresses associated with the incidents I discovered when I discovered them,” Zachxbt added to Telegram.
On June 30, the hackers gained unauthorized access to spare accounts of six financial institutions connected to the Brazilian central bank via C&M software.
Reports say the attackers siphoned $800 million (approximately $140 million). The theft is described as the largest digital robber in the country’s history.
C&M Software confirmed that the violation began with a social engineering attack. In the attack, employee Joanne Nazareno Roque sold his login credentials to the attacker for around $15,000 (approximately $2,780).
“In this case, according to a report provided to police authorities, CMSW employees were approached on the company’s premises by third parties who introduced themselves as “connecting with hackers” and promised financial benefits. Access began with individual qualifications, but additional qualification or auxiliary authentication mechanisms currently used under technical analysis are used.
Meanwhile, C&M Software stressed that the incident was caused by misuse of internal qualifications rather than from external technological infringement.
The company also emphasized that its infrastructure remains uncompromised. It emphasized that its internal controls quickly included threats and played a key role in supporting ongoing investigations.
With this in mind, security experts pointed out that the violation underlines the increased risk of social engineering attacks. In these attacks, perpetrators can manipulate employees to access critical systems and data.
“The weakest links are always human,” says Fernando Molina, data analyst at Blockworks.
Social engineering attacks such as phishing, spoofing, and fake support channels are on the rise worldwide. In particular, a report from Sprinto states that 98% of cyberattackers use these tactics to access sensitive information.
On the other hand, these types of attacks are common in the crypto scene as well. Zachxbt recently revealed that older Americans lost $330 million in Bitcoin in a similar scheme.
Additionally, a scam Sniffer report revealed that over 43,000 crypto users lost roughly $39 million to Crypto Phishing Scam in the first half of the year.
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