White hat hacker helped detain the organizers of the fraudulent project StableMagnet – Bits Media

An independent cybersecurity specialist conducted an investigation and forced the founders of the fraudulent project StableMagnet, kidnapped $25 million, return users' money.

Blockchain Security Expert
told, how he managed to identify and help arrest by law enforcement of the founders of the fraudulent DeFi StableMagnet. The white hat hacker began the investigation by studying the project code and Twitter messages about platform exploits. Having collected the necessary information, he decided to find the intruders.

"I just felt, that this was the only opportunity in my life to make a very significant impact in a situation, when most people don’t have the time or pleasure to do such things.”.

In the second phase of the investigation, the hacker began monitoring the GitHub accounts of scammers and their family members on social networks. During the investigation, a blockchain security expert contacted Hong Kong citizens, who were hiding in the Chinatown area of ​​Manchester, UK.

White hat hacker alerts Manchester police to scammers in hiding, who stole cryptocurrencies from users $25 million. Law enforcement agencies quickly detained the criminals and confiscated a USB device with $9 million.

"As soon as it happened, other project participants believed, what can I find out, where they are and I can punish them".

After the arrest of the project leaders, the remaining scammers began to cooperate with the white hacker and returned most of the assets.

Independent cybersecurity experts provide invaluable assistance to individuals, as well as cryptocurrency projects. Last week white hat hacker Joe Grand (Joe Grand) hacked Trezor One wallet and returned crypto assets worth more than $2 million user, to someone who has lost their PIN code. A blockchain security expert last year forced a teenage cybercriminal to return items stolen from the Creature Toadz project. $340 thousands on air. In October 2021 year, the cybersecurity group Lossless returned the tokens stolen from Cream Finance to $16.7 million.