The Bitcoin mining giant, Bitmain, has sued a mysterious hacker who allegedly stole Bitcoin from one of his company’s crypto-moneyaccounts.
According to the case filed by the Chinese-based company in the US District Court in Washington’s West District on 7 November, an unknown hacker infiltrated Bitmain’s Binance account in April and stole the company’s funds.
However, the hacker didn’t draw the bitmain ‘s funds into his wallet to better hide his identity , instead they used the relatively small ERC-20 token, the total market value of the Bitcoins virtual reality platform Decentraland, to artificially inflate MANA’s price.
In this way, the price of MANA increased by about 300 percent from $ 0.12 to $ 0.34 in less than an hour. It is estimated that this allows hackers to sell a large amount of MANA already in their hands.
Hacker later uses the BTC / MANA gains to trade on other crypto assets through Binance , Bittrex and other crypto-money exchanges.
He claims that Bitma lost about $ 615 million worth of BTC during hacking.
Hacker’s identity is under way.