Cyvers is a blockchain security platform. It has detected a lot of suspicious transactions from Duelbits indicating a security breach. Duelbits is a crypto casino site.
Duelbits wallets received an amount of $4.6 million from a suspicious address. These wallets are Ehereum and BNB chains. Deddy Lavid is Cyvers CEO. He shared early insights from the company’s investigation.
Loss of wallet access control seems to be the incident’s root cause. Someone usually steals or exposes the private keys or access credentials to the wallet. The suspicious address converted various tokens into Ethereum. Hackers usually use this tactic to consolidate assets into a more liquid and widely accepted crytocurency. It makes it easier to launder or hide the trail.
Moreover, assets on BNB chain were bridged to Ethereum. This indicates an attempt to move assets across platforms to unclear their origin. The hacker swapped all BNB swiftly for BSC-USD without realizing the lack of gas fees to move the funds to Ethereum.
The hacker of FixedFloat resolved the lack of gas fees. FixedFloat is a service that allows quick cryptocurrency exchanges to acquire the needed funds for the bridging transaction. As of now, Duelbits has yet to provide any update about the incident.