Cryptocurrency expert ZachXBT has named the person who is thought to have taken $11.1 million from PrismaFi. ZachXBT named the hacker, whose real names are 0x77 or Trung. This showed that they had something to do with the theft and the requests for funds.
It wasn’t until March that the Prisma team saw some strange transactions on the MigrateTroveZap contract, which cost them 3,257 ETH. First, the attackers said the breach was a “white-hat” operation. But then, they sent the funds to Tornado Cash, a well-known service that mixes cryptocurrencies.
Prisma’s Hacker Demands Uncovered
After that, the hacker made some bold demands, such as a huge $3.8 million “white-hat bounty,” which is a lot more than what is usually offered in this business. ZachXBT pointed out that this demand was the same as blackmail because Prisma didn’t have sufficient funds to pay back users.
After more research, it was found that the money moved from FixedFloat to Arbitrum, an Ethereum layer-2 option. By looking at the time, we found links to TRON withdrawals, including those from the Bybit exchange.
At the same time, links to past attempts, such as the Arcade_xyz and Pine Protocol breaches, were found. The thief, whose Telegram name was 0x77, was connected to the @modulusprotocol deployer, which made the chain of events stronger.
ZachXBT did more than just look into things technically. This shows that he is very good with computers because he also got personal information like emails and phone numbers. Now that the Prisma team knows this, they are suing the hacker in both Vietnam and Australia as a matter of law.
