IOTX Official Support Private Key Theft gan572
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Gan572 encountered a problem while trying to swap mainnet IOTX tokens to ERC20 tokens. In search of support, they contacted the IOTX Official support team on a Telegram group and provided their private key. Unfortunately, after four days, it was discovered that the support team member had stolen 18k USDT from Gan572's private wallet by using the private key. Gan572 immediately contacted Binance and froze the suspect's account, while also involving the police in the matter. Gan572 has evidence of the suspect's identity, including their name, phone number, and social media accounts. The suspect has a history of similar internet fraud cases and is attempting to unlock their account, claiming innocence on Twitter. However, they cannot prove the source of the funds. The funds are still intact, and the suspect's account remains frozen. Despite the unfortunate incident, Gan572 acknowledges that the situation could have been worse and shares their experience as a cautionary tale.
This is a global/international case not involving a specific country.[1][2][3][4]
About None
"I was trying to swap mainnet IOTX(which is on binance) to erc20 to prepare trading in coinbase pro.
And there was problem on swapping tokens and this problem was on everybody trying to swap.
So i tried to find IOTX Support team on telegram group"
"IOTX Official support team and gave him my private key"
"Then after 4 days, he just stole 18k USDT in private wallet using the private key after i withdraw from binance and transferred to his binance wallet. Fortunately, i immediately contacted binance and froze suspect’s account and keep contacting binance with police."
"Now what i have is USDT withdrawl history(which is transferred to my private wallet) on binance, Scam chat link, Suspect’s identity(name, phone, sns, etc)"
"The suspect’s identity is real not fake shitty id. Suspect already caught once 2 years ago by his country police for similar reason(internet fraud) And now he is trying to unlock his account saying he is innocent on his twitter but he can’t even prove where the fund is from(my wallets are never related to suspect even before this case)"
"Funds is still alive and suspect can’t do anythings cuz his account is frozen now and he can’t unlock cuz he can’t prove where the funds are from. That’s better than worse tho.."
"Made with trading, from 5k Yes it’s really happens someone like me"
This is a global/international case not involving a specific country.
The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.
Include:
- Known history of when and how the service was started.
- What problems does the company or service claim to solve?
- What marketing materials were used by the firm or business?
- Audits performed, and excerpts that may have been included.
- Business registration documents shown (fake or legitimate).
- How were people recruited to participate?
- Public warnings and announcements prior to the event.
Don't Include:
- Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
- Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.
The Reality
This sections is included if a case involved deception or information that was unknown at the time. Examples include:
- When the service was actually started (if different than the "official story").
- Who actually ran a service and their own personal history.
- How the service was structured behind the scenes. (For example, there was no "trading bot".)
- Details of what audits reported and how vulnerabilities were missed during auditing.
What Happened
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
| Date | Event | Description |
|---|---|---|
| August 25th, 2021 4:16:01 AM MDT | Reddit Post | Issue posted on Reddit. |
Technical Details
This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?
Total Amount Lost
The total amount lost has been estimated at $18,000 USD.
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Immediate Reactions
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?
Ultimate Outcome
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?
Total Amount Recovered
The total amount recovered is unknown.
What funds were recovered? What funds were reimbursed for those affected users?
Ongoing Developments
What parts of this case are still remaining to be concluded?
General Prevention Policies
Never share private keys.
Individual Prevention Policies
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.
References
- ↑ Tradegrow comments on Someone scammed me and withdraw my 18k USDT to his binance (Oct 3, 2022)
- ↑ Someone scammed me and withdraw my 18k USDT to his binance : binance (Jul 12, 2023)
- ↑ gan572 comments on Someone scammed me and withdraw my 18k USDT to his binance (Jul 12, 2023)
- ↑ IoTeX - Building the Connected World (Jul 12, 2023)