While Sam Bankman-Fried’s trial will begin tomorrow, the FTX hacker moved more than 50 million dollars in the space of 3 days, after more than 10 months of inactivity on the wallets concerned. How does the individual do this and where do the funds concerned end up, transferred in the form of Ethers (ETH)?
FTX attacker continues to move funds
Saturday morning, the individual who led the hack worth more than $350 million on the evening of FTX’s bankruptcy had transferred 25 million dollars after around ten months of total inactivity on the wallets concerned. The attacker had thus moved this sum in the form of Ethers through different wallets before sending it to the Railgun confidentiality protocol, to the Thorchain bridge and to the Ethereum burn address.
As we can see below, the individual appears to act methodically, moving only a portion of the funds address by address. While he had moved his 25 million dollars exclusively from the 0x3E9 wallet (in blue), this time he moved more than 25 million dollars from another wallet (0xTF3, in red) :
Transfers made by the FTX hacker on Saturday (blue) and yesterday and today (red)
However, the purpose seems to be the same for all the ETH transferred by the hacker, that is to say, they end up on the Thorchain bridge before being transferred to many other wallets. So, in total, the individual moved more than $51 million in just under 3 days.
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As we write these lines, the individual still holds $275 million across different wallets, almost exclusively in the form of Ethers. Almost a year later, we still do not know the identity of the person(s) who carried out this attack against FTX.
However, because the funds were transferred from wallets belonging to FTX and others to FTX US, a separate branch, many had suspected insider trading. At the time of the facts, Sam Bankman-Fried said the actions were likely committed by a former employee of the exchange.
Furthermore, it is interesting to note that these sudden movements began only a few days before the trial of Sam Bankman-Fried began. The latter will begin tomorrow, and should normally end on Thursday, November 9.
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Source: Arkham Intelligence
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