The infamous "Blockchain Bandit," known for amassing 51,000 Ether by exploiting weak private keys, has unexpectedly moved the entire stash into a single wallet after two years of inactivity. Blockchain investigator ZachXBT reported the transfers on Dec. 30, revealing that the funds were consolidated into a multi-signature wallet address “0xC45…1D542.”

The transfers, conducted in batches of 5,000 Ether, occurred within a short 24-minute window. This marks the first movement of the funds since January 2023, when the hacker had previously shuffled the stolen crypto. During that period, they also moved 470 Bitcoin, adding to their infamous record.

The "Blockchain Bandit" earned notoriety by guessing weak private keys, a feat described as statistically improbable. According to Independent Security Evaluators, the hacker exploited 732 private keys tied to over 49,000 transactions. This method, dubbed "Ethercombing," involved brute-force searches targeting faulty code and random number generators.

First emerging in 2016, the hacker’s peak operations occurred in 2018. Despite extensive investigations, their identity remains unknown. Some experts, like Adrian Bednarek, have speculated that state actors, potentially North Korea, could be behind the sophisticated thefts.

This event comes amid a concerning rise in crypto-related hacks. Onchain security firm Cyvers reported that hackers stole over $2.3 billion in 2024, a 40% increase from the previous year. A staggering 81% of this value resulted from access control breaches on centralized platforms.

As the Blockchain Bandit resurfaces, questions loom over their motives and the potential implications for Ethereum's ecosystem.