Investor Falls Victim to Crypto Hack

In an interview with Cointelegraph, Matthias Mende expressed his shock at the realization that he had lost $100,000 in crypto assets to a hacker, stating, “I thought that my heart would stop”

Although it is theoretically possible to safeguard oneself from malicious actors in the crypto space by avoiding suspicious links and covering all bases, an investor recounted an incident that resulted in over $100,000 in losses despite his best efforts to protect his funds.

Matthias Mende, co-founder of the Dubai Blockchain Center and inventor of the social verification project Bonuz, shared his experience with Cointelegraph after losing his assets to a hacker.

An inexplicable drain of funds occurred.
Mende reported the loss of his Solana Name Service (SNS) domains, “mende. sol” and “bonuz. sol,” as well as over $100,000 in crypto assets, on June 25. He warned his followers about the numerous unscrupulous actors operating in the cryptocurrency industry.

Mende stated that he was unaware of how he had been compromised. The crypto investor asserted that he implemented stringent security protocols and refrained from clicking on any suspicious links. The crypto investor also emphasized that he does not maintain his seed phrases in a digital format.

Mende clarified that he was involved in a Solana SOL transaction worth $144,000.

I was satisfied with the investment after purchasing the token during the pre-sale. He informed Cointelegraph that his wallet was drained a few days later. Initially, the intruder distributed 320 SOL tokens, estimated to be worth $46,000.

Nevertheless, Mende stated that the perpetrator returned some SOL tokens to the wallet to use as gas and drained the wallet completely when they realized other tokens were in the wallet. In general, the losses are estimated to be worth $100,000.

Upon realizing that his funds were gone, Mende expressed his utter despair. He elaborated:

“I thought that my heart would stop. I slapped myself in the face just to wake up because I thought maybe I was sleeping and it was a nightmare, but it was absolutely real.”

The investor stated that he would have experienced depression had this occurred in the past; however, at present, he has elected to concentrate on the present and make the best of the situation.

Mende was taken aback by the occurrence, as he had been dedicated to Web3 security for an extended period. As part of his social media identity verification initiative in 2023, he introduced Bonuz, a blockchain-based solution developed to combat social identity theft.

“I did not click on any amusing links.” I refrained from associating the wallet with amusing items as I prioritized security. He also mentioned that he employed the Brave browser.

The victim is requesting that the hackers return the funds.
According to Mende, he had already reported the incident to Dubai’s cybercrime unit to guarantee that the crypto exchanges could freeze the funds once they were transmitted to their platforms.

Additionally, he disclosed that he is collaborating with forensic experts to identify the perpetrator, even though their identity has not yet been determined.

“We know exactly where the coins are, and the good thing is that if the cybercrime unit determines that the hackers are in the UAE, they will arrest them directly.”

The investor also encouraged the hackers to return the funds or face legal consequences. “This money will always be traced and eventually returned to you.” That is blockchain. Mende posted on X, “I will forgive you and refrain from taking any legal action if you return the money within two days.”