Hackers Drain Monero Crowdfunding Wallet
The Monero (XMR) team announced on September 1, 2023, that the Community Crowdfunding System (CCS) Wallet was hacked, stealing the entire balance of 2,675.73 XMR, or approximately $384,000.
The source of the vulnerability has not yet been determined, but cybersecurity firm SlowMist has stated that it is unlikely to be caused by a loophole in the Monero privacy model.
The attacker reset the balance of the Monero CCS Wallet, which contained 2,675.73 XMR altcoins in nine separate transactions.
Moonstone Research investigated how the attacker moved these funds, and they were able to precisely trace three of the attacker’s transfers.
Two months after the attack, a Monero developer named Luigi announced on Github that the wallet had been completely emptied.
The other person with access to the wallet is former Monero developer Ricardo Spagni, who surrendered to US authorities in July 2023 for extradition to South Africa, where he was charged with invoicing fraud against a cookie company.
(With inputs from Shikha Singh)
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