A crypto scammer who made off with 1,155 Wrapped Bitcoin (WBTC), valued at around $70.5 million, has started giving back the money, recent blockchain data reveals.

Peckshield, a blockchain security company, disclosed that the scammer has returned half of the stolen funds—approximately 11,446.87 ETH, equivalent to $34.7 million—to the victim’s address.

The scammer’s repayment followed some communication with the victim through messages embedded in the blockchain. This interaction occurred within the past day.

How the Theft Happened

On May 3, an unnamed cryptocurrency trader fell prey to a phishing scam, losing 1,155 WBTC. In this type of scam, individuals are tricked into sending digital assets to fake addresses controlled by cybercriminals.

After the theft, the scammer promptly converted the WBTC into 22,956 ETH and spread the funds across numerous wallets to cover their tracks.

Negotiating a Deal

The victim proposed offering the thief a 10% reward in return for returning 90% of the stolen funds. The victim warned that laundering the money would be futile.

“We both know there’s no way to clean this funds. You will be traced. We also both understand the ‘sleep well’ phrase wasn’t about your moral and ethical qualities. Nevertheless, we officially admin your right to the 10%. Send 90% back,” the victim communicated.

Hacker’s Activities

Slow Mist, another blockchain security firm, hinted that the scammer might be behind other phishing attacks targeting Tron and Ethereum blockchains.

The firm observed a flurry of suspicious activity from April 19 to May 3, with an address associated with the hacker initiating over twenty thousand small transactions, dispersing small amounts of ETH to various addresses for phishing.

Moreover, Slow Mist traced several suspected IP addresses used by the hacker to mobile stations in Hong Kong.