As Sam Bankman-Fried’s trial fast approaches, one of the wallets associated with the FTX hack last November has moved more than $8 million. At the time of writing, the various wallets associated with the attack still hold around $310 million.
More than 8 million dollars transferred by the FTX hacker
After around ten months of inactivity, the attacker(s) who stole more than $350 million from the FTX exchange the night it declared bankruptcy have just started moving funds. Already at the time, the timing turned out to be rather troubling and suggested an inside job, especially since the funds had been transferred from both FTX and FTX US, 2 separate branches.
Anyway, today, one of the wallets that received part of the approximately 350 million dollars transferred the equivalent of $8.36 million in the form of Ethers through 2 transactions of $4.18 million each 3 hours apart.
As we can see in the infographic below, the attackers then transferred all of the funds through at least 4 different addresses :
Figure 1 – First transactions carried out by hackers
Then, surprisingly, one of the addresses swapped $2.09 million worth of ETH for tBTC before sending it to the Ethereum burn address (0x00). Another of the addresses has transferred approximately $920,000 to Railgunwhich allows transactions to be anonymized.
Arkham: the most powerful tool for tracking companies’ crypto activities
In parallel, 4.62 million dollars were transferred from 2 different addresses to the Thorchain bridgewhich makes it possible to blur the on-chain traces between incoming and outgoing transactions.
Figure 2 – Transfers from wallets to Thorchain, Railgun and the Ethereum burn address
As of this writing, the wallet that was used to start these transfers (0x3e957efc6d1bf1d9141212269cd04855ad92696e) still holds $16.7 million. In total, the various wallets associated with FTX hackers currently hold around $310 million.
Almost a year after the events, we still do not know how these hundreds of millions of dollars could have been stolen and by whom. Concerning the FTX file, Sam Bankman-Fried’s trial will begin on October 3and should normally last until November 9.
👉 Also read – Su Zhu was arrested by Singaporean police while trying to flee the country
Zengo: the ultra-secure mobile wallet
Source: Arkham Intelligence
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page may feature investment-related assets, products or services. Some links in this article may be affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no harm to you and you can even get a bonus using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to cryptoassets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.