Peckshield, a blockchain security company, reported on March 31 that over a million Arbitrum (ARB) tokens had been stolen by two malicious individuals.

The report says that an exploiter-connected wallet called “0xbd4E” bridged 933,375 ARB to 713 Ethereum (ETH), which is worth $1.27 million, and connected those tokens to the Ether mainnet.

The stolen 105,000 ARB tokens were transferred to two new addresses, “0xC4cf” and “0xB209,” from another wallet known as “0x7AFd.”

At the time of writing, it was not clear if the two wallets belonged to the same exploiter.

Meanwhile, the wallet “0xbd4E” was incorrectly identified as a “super airdrop hunter” by the on-chain investigator Lookonchain. Henry, a victim, claimed that the hacker took 7250 ARB tokens from them.

A fake Arbitrum Twitter account-promoting phishing website was reported by Certik, an additional blockchain security firm. On Arbitrum’s official Discord server, Certik claimed on March 25 that a fictitious phishing link had been posted.

Is Upbit accumulating ARB?

In the meantime, the web3 knowledge protocol 0xScope reported that a “massive” amount of ARB had been collected by an externally owned account (EOA) that was thought to be UPbit in the previous day.

The wallet currently possesses 59 million tokens worth $84.4 million, as indicated by on-chain data.

The Korean exchange has the second-most ARB tokens after Binance, if 0xScope is correct.

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Bankrupt Alameda claims over 33,000 ARB tokens

Arkham Intelligence claims that wallets associated with Alameda Research, a failing cryptocurrency company, claimed $45,000 worth of ARB tokens from the March 23 airdrop.

Arkham tweeted that the maximum amount of 10250 ARB was given to one of the bankrupt’s firm accounts, “0xc5e.” Between 2,125 and 8,750 tokens were given to the remaining four accounts.

After the company went bankrupt in November 2022, its administrators began combining the assets from various on-chain sources into a single wallet.

Arbitrum price down 3%

ARB is down 2.72% in the last 24 hours to trade at $1.35141 as of press time, according to Vipkhoone data.

After its launch on March 23, the layer2 network token experienced a significant sell-off, but its price has begun to stabilize in recent days.

According to Vipkhoone data, the token is one of the top 40 digital assets by market cap and is worth $1.7 billion.

According to L2beat, the network is still the most popular layer2 solution and has assets worth over $6 billion locked onto it.