In a seemingly positive end to a hot wallet exploit, a victim managed to get a hacker’s USDT address frozen and is now awaiting a potential reimbursement.
The victim, who goes by L3yum on X , was initially drained on March 16 after the hacker managed to get a hold of their hot wallet seed phrase. Several Yuga Labs-related nonfungible tokens were stolen, alongside some crypto and other NFTs from smaller projects, before being promptly swapped or sold off.
It’s not yet known if the victim will be reimbursed. However, in previous instances where a USDT address has been blacklisted under similar circumstances, Tether has burned theIt is also worth noting that the blacklisting of a USDT address by Tether generally comes after a court order.When asked if this was the case in the comments, L3yum confirmed this was the likely path forward but suggested it hasn’t been confirmed yet.
“This is the part I’m unsure about but yeah from my understanding this is how it works and the funds that are blacklisted are essentially burnt. Don’t quote me on that though, but that is my understanding!” he wrote.
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