Phishing Hacker Faces Multi-Agency Pressure: White Hat Bounty Offer Unveiled in $50M USDT Case

An on-chain researcher named Specter has directed a critical message toward the perpetrator of a massive 50 million USDT phishing scheme, proposing a settlement framework that hinges on swift asset recovery. According to reports from December 20, this proposal emerges after significant enforcement developments in the case.

Escalating Legal and Technical Pressure

The situation has intensified dramatically with an official criminal case now underway against the attacker. Law enforcement agencies, cybersecurity organizations, and multiple blockchain protocol teams have collaborated to compile substantial intelligence on the perpetrator’s activities. The hacker’s wallet addresses are now being closely monitored around the clock, leaving minimal room for undetected fund movement.

The White Hat Bounty Proposal

At the core of Specter’s message lies a carefully structured incentive: the hacker would be permitted to retain $1 million as compensation for responsibly disclosing the vulnerability—essentially reframing potential cooperation as a white hat security practice. This bounty framework represents an alternative to full prosecution, contingent on the attacker returning 98% of the stolen assets to a designated wallet.

Critical Timeline and Conditions

The proposal carries a strict 48-hour deadline for fund return. Should the hacker comply within this window and demonstrate full cooperation, the victim has pledged to consider the matter resolved and will pursue no further legal action. This conditional amnesty reflects a pragmatic approach: prioritizing asset recovery over prolonged litigation while acknowledging the attacker’s discovery of a security gap.

The arrangement underscores how even large-scale phishing incidents can potentially be mitigated through coordinated pressure from multiple stakeholders combined with financial incentives for cooperation.