The hacker who stole over $ 11 million in IOTA has been caught.

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The main technology department of IOTA acknowledged that most project tokens – worth over USD 11 million – were stolen from investors’ portfolios, but funds are now being kept as evidence by law enforcement agencies against the alleged attacker.

Last week, Europol announced that it was helping British and German law enforcement agencies arrest 36-year-old Oxford man in England. The alleged hacker was charged with the theft of about 10 million euros (approximately 11.4 million dollars) in IOTA tokens over 85 victims around the world.

Digital war: the revenge of hackers

With the development of cryptocurrencies in the last three years, cybercrime has become a huge problem, the scale of which in 2018 increased by over 400 percent, and investors’ losses amounted to about $ 1.7 billion.

“As far as we know, only a small share of 10 million euros has not been found,” Dominik Schiener, co-founder of IOTA, said on Friday in an interview with Reuters. Reportedly, cryptoexchanges have blocked the hacker accounts.

Schiener admitted that initially he believed that the attack was the work of an organized group, but now there are many indications that only one person was behind it “who had a normal job and is well educated”.

In his statement last week, Europol refused to disclose the name of the hacker.

The history of the investigation

The investigation began in early 2018, when the Hessen state police received a report regarding stolen funds from cryptocurrency portfolios. Further investigation steps led to the Iotaseed.io website, which was used to generate seeds. The hacker used this to gain access to the victims’ portfolios and transfer their funds to the portfolios that he created on cryptoexchanges (Fake accounts).

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