Anonymous Hackers Continue to Move Stolen Assets from FTX Exchange
Anonymous hackers who targeted the now-defunct FTX exchange have been actively transferring stolen assets, coinciding with the trial of FTX founder Sam Bankman-Fried. According to blockchain analytics firm Elliptic, around 72,500 Ether (ETH) of stolen assets from FTX has recently emerged for the first time since the hack in November 2022. The hacker has converted approximately $120 million worth of ETH into Bitcoin (BTC) through the decentralized exchange THORSwap. These transactions began just before Bankman-Fried’s trial commenced on October 3. The laundering technique employed by the hacker is similar to the one used during the initial hack, where 65,000 ETH was converted to BTC using RenBridge.
FTX Hacker’s Losses and Potential Culprits
The FTX hacker suffered losses of $94 million as they hurriedly attempted to launder the funds through decentralized exchanges, cross-chain bridges, and mixers. Even after almost a year since the incident, the identity of the hacker remains unknown. Elliptic proposed three possibilities for who could be behind the FTX theft: an inside job by FTX employees with access to the crypto assets, involvement of North Korea’s Lazarus Group, or Russia-linked criminal groups. The chaos surrounding FTX’s bankruptcy and collapse may have provided an opportunity for an internal actor to seize these assets.
Hot Take: Anonymous Hackers Continue Moving Stolen Assets from FTX Exchange Amid Founder’s Trial
Anonymous hackers who targeted the defunct FTX exchange are still on the move with stolen assets, even as the trial of FTX founder Sam Bankman-Fried is underway. The recent emergence of 72,500 Ether (ETH) stolen from FTX has caught the attention of blockchain analytics firm Elliptic. The thief has converted $120 million worth of ETH into Bitcoin (BTC) through decentralized exchange THORSwap. These transactions began just before the trial started, raising questions about their connection. Despite efforts to launder the funds, the hacker suffered significant losses. The identity of the hacker remains a mystery, with Elliptic suggesting several potential culprits.
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