The hacker Blockchain Bandit stole 51,000 Ethereum mainly by successfully guessing weak private keys. After being dormant for nearly two years, blockchain investigator ZachXBT said in a Telegram post on December 30 that all 51,000 Ethereum were transferred from 10 wallet addresses to the multi-signature address "0xC451D542". The funds were mainly transferred into 5,000 Ether in batches between 8:54 pm UTC and 9:18 pm UTC on December 30. Before that, the stolen funds had been dormant in these 10 wallet addresses since 51,000 Ethereum was transferred on January 21, 2023. Around the same time, the hackers also transferred 470 bitcoins.