Crypto wallet hacking incident in British Virgin Islands results in token theft

A company based in the British Virgin Islands has fallen victim to a cyber attack, resulting in the theft of utility tokens from its cryptocurrency wallet. The wallet was compromised via a wallet drain exploit on April 10, with an unauthorized third party draining over 447,586 tokens and transferring them to another wallet.

The hacker attempted to liquidate all of the stolen tokens but only managed to sell approximately 110,936 for around 9,245 USDC. The remaining tokens were routed through a series of wallets in what appears to be an attempt to obscure the trail of the stolen funds.

As of Thursday, over 335,950 tokens worth around USD 26,450 are still available to be sold on a cryptocurrency exchange platform. The company has filed a complaint with Cyberabad Cybercrime, and further investigation is ongoing.