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Guavy AI Editorial Team••Sentiment: -3.5•Clout: 82

Kraken User Suspected of Falling Victim to $18.2 Million Social Engineering Heist

BTCETHRUNESFP

A recent report by blockchain investigator ZachXBT has shed light on a suspected $18.2 million social engineering heist targeting a Kraken user.

The attacker is believed to have begun bridging 878 ETH, worth approximately $1.8 million, from Ethereum (ETH) to Bitcoin (BTC) through THORChain using a SafePal wallet.

THORChain, a decentralized cross-chain liquidity protocol, does not require Know-Your-Customer (KYC) verification, which has raised concerns about its potential use in laundering stolen funds.