hacker begins transferring millions of dollars after almost a year of inactivity

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.

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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.

Thorchain hack FTX

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

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Source: Arkham Intelligence

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