Once the money was transferred, the attacker mixed the stablecoins across several addresses, making it even more challenging to trace and recover the money. The researchers observed that token labels provided by blockchain explorers are sometimes unreliable for giving a quick overview of transfers.
Security analysts suggest that the most secure method for monitoring the flow of tokens in the blockchain is through a contract address. The stolen funds could have passed through various chains and addresses, which complicates recovery efforts, especially when the assets are not listed on a centralized exchange. Up to this point, the identity of the person who carried out the attack has not been known.
Researchers have noted that the leaks of private keys and credentials have resulted in the loss of over $1 billion in the last few years, highlighting the current risks that cryptocurrency holders face.
