FTX Hacker Moves $8 Mllion in Stolen Funds for the First Time in 10 Months
As FTX faced its dramatic collapse, a mysterious hacker absconded with hundreds of millions of dollars. 10 months later, on-chain data unveiled some fresh activity within the wallet of the alleged perpetrator.
The identity of the individual responsible and the precise technique employed in the multi-million dollar hack continued to remain shrouded in mystery before the sudden transfers.
- According to data from Arkham Intelligence, the FTX Hacker holding more than $300 million of assets was moved for the first time in 10 months. The address continues to hold 12.5K ETH.
- A total of $8 million was observed to have been transferred via RailGun privacy wallet and Thorchain on September 30th.
- Arkham’s data disclosed two transactions in which the hacker transferred 2,500 ETH, with each batch having a value of $4 million.
- The FTX breach occurred on November 11, 2022, shortly after FTX filed for bankruptcy while its founder Sam Bankman-Fried stepped down from his position.
- During this incident, an unknown attacker(s) managed to siphon more than $600 million worth of Ether, which briefly made it the 35th largest holder of the altcoin.
- Initially, the hacker initially deposited the stolen funds to CoinMixer – which is an anonymous Bitcoin mixing service designed to make on-chain Bitcoin transfers harder to track.
- In a bid to further obscure the trail of funds, numerous swaps and bridge transfers were opted by the entity.
- Following the incident, prominent on-chain sleuth ZackXBT also speculated that the hacker had likely transferred those funds to crypto exchange OKX after withdrawing from the mixer.
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