Ogle's Role in Capturing Crypto Criminals: A Deep Dive

• Dealing with Decentralized Finance (DeFi) Hacks
• Aiding the Cyber Security Community
• Indelible Impact on Negotiating with Crypto Criminals
• Early Days and Current Challenges
• The Importance of Audit and Planning
• Demographics of the Typical Hacker
• Recovering Stolen Assets: A Case Study

Dealing with Decentralized Finance (DeFi) Hacks

In the rapidly evolving world of decentralized finance, hacks are frequent occurrences. A significant figure in the battle against these cyber threats is a person who operates under the aliases @cryptoogle on Twitter/X and ogle.eth on-chain. This individual has made significant strides in professionalizing the industry for the recovery of stolen crypto assets. Reportedly, over $350 million has been restored from crypto protocol exploits under their guidance.

Aiding the Cyber Security Community

In his bid to combat crypto-related threats, this person not only utilizes social media platforms such as Twitter, Telegram, and Discord but also works alongside a team at a security group that he funds out of pocket. In addition, he collaborates with a group of Web3 natives to help track down stolen funds. Some of the group members include well-known names like Alicia Katz, SamCzSun, and ZachXTB.

Indelible Impact on Negotiating with Crypto Criminals

Little is known about the personal life of this individual other than that he has a background in the tech industry and has worked with Web2 firms. His expertise has allowed him to invent negotiation practices with cybercriminals, such as proposing a 10% figure that could let criminals keep a portion of the stolen money if they return 90% to the affected protocol. He has been instrumental in recovering funds from some of the largest crypto hacks to date, including incidents involving Euler, Alchemy, and his current project, the KyberSwap hack.

Early Days and Current Challenges

In his youth, he was part of CyberArmy, a group of ethical hackers or white hat pen testers working for the greater good. He credits this early exposure to cyber threats and security practices for his current expertise in the field. Despite the high cost of his services, the challenges are plenty. He often has to negotiate with hackers for extended periods, only to be disregarded by the DAO or protocol dev team once the funds have been recovered.

The Importance of Audit and Planning

He suggests that the best measure DeFi protocols can take to secure their assets is a thorough audit. Following that, they should develop a plan to deal with potential hacks. Old protocols are not immune to attacks, as evidenced by the recent near-wipeout of the veteran decentralized exchange, KyberSwap.

Demographics of the Typical Hacker

According to him, the typical hacker often fits a specific profile: young, intelligent, ambitious, usually under 25, and based in Asia. Interestingly, even after some negotiations, he sometimes maintains friendly relations with these individuals.

Recovering Stolen Assets: A Case Study

A notable case is his involvement with StableMagnet, a decentralized protocol that offered higher returns than competitors like Aave. When StableMagnet was compromised, leaving investors with significant losses, he viewed it as an opportunity to aid in asset recovery. He was able to track down the culprits using clues from various online platforms and details about their personal lives. This led to them being identified in Hong Kong, and subsequently in England, where they had fled amidst the COVID-19 pandemic. After successfully locating their whereabouts in Manchester, he involved the local law enforcement to aid in the recovery of the stolen funds.

Edited by Jonathan Stoker