FTX Hacker Holding $300,000,000 in Crypto Suddenly Moves Millions Worth of Assets: On-Chain Data

Hacker Behind FTX Crypto Exchange Breach Unexpectedly Transfers Millions in Digital Assets.

Blockchain analytics firm Arkham reports that the hacker responsible for the FTX breach, possessing over $300 million in digital assets, has initiated Ethereum (ETH) transfers for the first time since 2022. The transactions, totaling $8 million of the world's second-largest cryptocurrency by market cap, were conducted through the RailGun (RAIL) smart contract system and the Thorchain (RUNE) decentralized exchange. The "FTX Exploiter" wallet, as per Arkham's data, currently holds assets including $1.7 million in Dai (DAI), $3.97 million in Tether (USDT), $30,000 in USDC, and smaller amounts in Binance Coin (BNB), Bitcoin (BTC), and Wrapped Bitcoin (wBTC)Source: Arkham/X

In November 2022, amidst its bankruptcy proceedings, FTX crypto exchange disclosed a massive hack resulting in a loss of $383 million. Ryne Miller, the exchange's general counsel, promptly informed traders about the breach and cautioned against visiting the FTX website due to potential malware threats. He stated, 'FTX has been compromised. Our chat is active for support. Please avoid accessing the FTX website to prevent potential Trojan downloads. We've managed to recover some of the funds.'

Subsequent investigations revealed that the perpetrator converted the stolen assets into Ethereum, becoming one of its most significant holders. Data from Etherscan, an Ethereum blockchain explorer, identified the hacker's wallet, labeled 'FTX Accounts Drainer,' as the 35th largest Ethereum holder globally at that period."

Oct 02, 2023

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