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After a phishing scam and hack in which $11 million worth of IOTA tokens were stolen from unsuspecting investors, IOTA has revealed that nearly all tokens have been recovered and are being held in evidence in accordance to the investigation.
Back in January 2018, a British hacker known by the handle “Norbertvdberg” set up a website named iotaseed.io a website designed to generate a “random” seed (or password) for IOTA holders and their wallets.
Norbertvdberg kept a record of these “randomly” generated seeds which actually turned out to be a predictable series of numbers.
The hacker then initiated a DDoS attack against the IOTA servers in order to disguise the larceny.
This clever rouse resulted in the appropriation of over $11 million worth of IOTA tokens.
Subsequently, as reported on the 23rd of January 2019 Norbertvdberg was captured by police.
Now the IOTA chairman and co-founder Dominik Schiener has revealed, in a conversation with Reuters, that nearly all of the funds have been found and are in police custody:
“From what we know, just a small amount of the 10 million euros has not been found … The exchanges have blocked the hacker’s accounts. He tried to free the money, but he did not succeed.”
Read more: UK man arrested for stealing IOTA worth over $11 million