Mysterious FTX Hacker Moves Funds 10 Months After Massive Crypto Theft
After the dramatic collapse of FTX and the theft of hundreds of millions of dollars, the identity of the hacker responsible remained a mystery. However, recent on-chain data has revealed some new activity in the wallet of the alleged perpetrator.
Fresh Activity in Hacker’s Wallet
According to data from Arkham Intelligence, the FTX Hacker’s wallet, which holds more than $300 million in assets, saw its first movement in 10 months. The address still retains 12.5K ETH.
$8 Million Transferred via RailGun and Thorchain
A total of $8 million was observed being transferred through RailGun privacy wallet and Thorchain on September 30th.
Hacker Transfers 2,500 ETH
Arkham’s data disclosed two transactions where the hacker transferred 2,500 ETH, with each batch valued at $4 million.
The FTX Breach and Bankruptcy
The FTX breach occurred on November 11, 2022, shortly after FTX filed for bankruptcy and its founder Sam Bankman-Fried stepped down from his position.
Hacker’s Use of CoinMixer and Bridge Transfers
The stolen funds were initially deposited into CoinMixer, an anonymous Bitcoin mixing service that aims to make on-chain transfers harder to trace. To further obscure the funds’ trail, the hacker utilized various swaps and bridge transfers.
Speculation on Fund Transfer to OKX
On-chain sleuth ZackXBT speculated that the hacker likely transferred the funds to crypto exchange OKX after withdrawing from the mixer.
Hot Take: FTX Hacker Resurfaces with Wallet Activity
Ten months after the FTX hack, the hacker responsible for the massive theft has resurfaced with new activity in their wallet. The identity of the hacker and the exact techniques used in the hack remain a mystery, but recent on-chain data has shed some light on their movements. The hacker’s wallet, holding over $300 million worth of assets, saw its first movement in 10 months. Additionally, $8 million was transferred via RailGun privacy wallet and Thorchain, while two transactions involving 2,500 ETH were disclosed. This development adds another chapter to the ongoing saga of the FTX collapse and highlights the challenges of tracking stolen funds in the crypto world.
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