The FTX Exploiter Moves $36.8 Million Worth of Ether Amid Court Trials
The crypto wallet address associated with the FTX exploiter has transferred approximately $36.8 million worth of Ether (ETH) in the past 24 hours. This comes as the ex-CEO of the defunct crypto exchange, Sam Bankman-Fried (SBF), is facing court trials.
FTX Hack and Stolen Funds
Back on November 11, 2022, FTX and FTX.US had $600 million drained from their accounts shortly after filing for bankruptcy. Traders were informed of the hack caused by malware by FTX general counsel Ryne Miller. The exploit involved the use of Trojans, but some funds were eventually recovered.
The Movement of Stolen Funds
After nearly 10 months of silence, the FTX exploiter started transferring the stolen funds. Between September 30 and October 1, they moved 10,250 ETH worth $17.1 million through four addresses. According to Spot On Chain data, the exploiter initially held 175,496 ETH ($294 million), but their current balance is now $196.014 million.
Transfers and Swaps
Since September 30, a total of 67,500 ETH has been transferred out of five of the exploiter’s wallet addresses. Out of these transfers, 64,948 ETH ($108 million) went through the THORchain router, while 52 ETH ($84,000) was sent to the Railgun contract. The remaining 2,500 ETH ($4.19 million) was swapped for Bitcoin (tBTC).
The Trial of Sam Bankman-Fried
The trial of SBF, who is facing seven counts of fraud and money laundering charges, began on October 3. SBF has pleaded not guilty to all charges. The Department of Justice and the defense team presented their statements to the jury on the second day of the trial. The DOJ focused on SBF’s alleged role in misleading investors, while the defense argued that he was a young entrepreneur who made unsuccessful business decisions.
Stay Informed
Follow the latest updates on the SBF-FTX court trials to stay informed about the ongoing developments.
Hot Take: FTX Exploiter Continues Moving Stolen Funds
The FTX exploiter has resumed transferring stolen funds, moving approximately $36.8 million worth of Ether in the last 24 hours. This comes amidst the court trials of Sam Bankman-Fried, the ex-CEO of FTX. The exploit involved draining $600 million from FTX and FTX.US accounts after they filed for bankruptcy. Although some funds were recovered, the exploiter recently started moving stolen ETH through different addresses. A total of 67,500 ETH has been transferred out of five wallet addresses so far, with a significant portion going through THORchain router and Railgun contract. Stay updated on the ongoing SBF-FTX court trials for further developments.
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