‘FTX Drainer’ Moves $8M in Ethereum
After the FTX exchange was hacked in November 2022, a significant amount of ethereum (ETH) and ERC20 tokens were stolen. The stolen funds remained untouched for almost a year until September 29, 2023, when the hacker decided to move 5,000 ETH. The transfers caught the attention of onchain investigators who shared the information on the X social media platform.
According to Arkham Intelligence’s report, the hacker moved $8 million worth of ETH using Railgun and Thorchain, two decentralized finance platforms. Thorchain facilitates cross-chain liquidity swaps, while Railgun offers privacy features for decentralized applications. These platforms could potentially help hide the hacker’s tracks.
Hacker Still Holds $308.93M Worth of Cryptocurrencies
Despite moving 5,000 ETH, the hacker still possesses a crypto arsenal valued at $308.93 million. The arsenal includes various digital currencies such as ETH, USDT, BTC, USDC, DAI, BNB, and more. However, the hacker’s most valuable asset is the ETH treasure worth $303.14 million spread across 31 different blockchain addresses.
Hot Take: ‘FTX Drainer’ Makes a Bold Move
The recent movement of $8 million worth of ETH by the “FTX drainer” has raised eyebrows in the crypto community. After lying dormant for almost a year, the hacker chose to shift the funds into decentralized finance platforms Railgun and Thorchain. This move indicates that the hacker is actively managing their stolen assets and potentially exploring avenues to further obfuscate their tracks. As investigators continue to monitor these developments, it remains to be seen how this ongoing saga will unfold and whether any progress will be made in identifying and apprehending the perpetrator.
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