FTX Exchange Breach: Hacker Moves $38 Million in Ethereum
A wallet associated with the FTX exchange hack has moved approximately $38 million worth of Ethereum (ETH), as FTX's Sam Bankman-Fried prepares for his impending trial.
According to on-chain data, the wallet first became active on September 30th, with an initial transfer of 6,250 ETH, valued at around $10.46 million. The transactions were carried out through privacy tools like RailGun and THORChain. On October 1st, the user transferred about 12,250 ether in two separate transactions, again through THORChain.
This information was corroborated by prominent blockchain analytics firm SpotOnChain. They reported that 7,749 ETH (approximately $13 million) were transferred using THORChain and RailGun. Meanwhile, the attacker exchanged 2,500 ETH or roughly $4.19 million for 153.4 tBTC.
https://twitter.com/spotonchain/status/1708303212208705776
In total, the attacker transferred 22,500 ETH, amounting to $38 million over the weekend. This marked the first time funds have moved from this address since the FTX hacking incident last year.
The FTX exchange was exploited for a whopping $650 million just one day after declaring bankruptcy. Rumors circled that the attack was an inside job, although the identity of the attacker remains unknown nearly a year later. As we reported last year, the hacker became the 34th biggest ethereum owner, holding close to 290,000 ETH.
A corresponding concern is the remaining digital assets in the FTX exploiter’s wallet, currently estimated to be worth $287 million. Included among these assets are 163,249 ETH and 3.9 million USDT. Some fear these transactions could lead to an increase in the selling pressure in the market, which could potentially disrupt the upward movement of ETH’s price. This concern has arisen just as the asset has seen significant growth and high-level acquisitions.
