Blockchain security platform Cybers has detected several suspicious transactions from crypto casino site Duelbits that indicate a security breach.
The suspicious address received $4.6 million from Duelbits wallets on Ethereum and BNB chains. Cyvers CEO Deddy Lavid exclusively shared early insights from the company's research with crypto.news.
The root cause of this incident appears to be loss of wallet access control. This usually means that your private key or access credentials to your wallet have been compromised or stolen. The suspicious address converted various tokens to Ethereum. Hackers typically use this tactic to consolidate assets into more liquid and widely accepted cryptocurrencies, making it easier to launder and hide their traces.
Additionally, assets on the BNB chain were bridged to Ethereum. This further indicates an attempt to move assets between platforms to obscure their origin. The hackers hastily exchanged all BNB to BSC-USD, unaware that they lacked the gas fees to bridge their funds to Ethereum.
To solve the shortage of gas fees, hackers used FixedFloat, a service that allows for rapid cryptocurrency exchange, to obtain the funds needed for bridging transactions. As of this writing, Duelbits has not yet provided any updates regarding this incident.
This is a developing story.
