FTX Hacker Moves $17M Worth of Ether

FTX Hacker Moves $17M Worth of Ether
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As per the data shared by Spot On Chain, the FTX hacker is on the loose again. The exploiter has conducted transfers of more than 10,000 Ether tokens, which account for almost $17 million, across five different addresses since September 30. However, these addresses remained dormant for a few months prior to the recent activity. A considerable chunk of the 7,749 ETH was sent to the THORchain router along with the Railgun contract.

The FTX exploiter engaged in a swap of almost 2,500 Ethereum (ETH) tokens worth approximately $4.19 million. These tokens were converted into 153.4 tBTC at an average price of $27,281 per token. Furthermore, at the initial time of the hack on September 30, a total of 50,000 ETH tokens were considered to be lost. Analysts believe that the FTX exploiter resorted to the use of several complex privacy techniques to gain access to the DeFi application.

Other units of these stolen units of ETH tokens continue to be in the intermediary wallet, whereas an additional 12,500 tokens continue to remain in the original wallet. With the FTX exploiter already carrying out these transactions in private, it has become increasingly difficult to understand how they are being utilized. The hacker’s history goes as far back as November 2022, not too long after the collapse of the FTX exchange. During that time, the bad actor managed to get away with $600 million in ETH and has stayed silent since then.

FTX Hacker Moves $17M Worth of Ether

SBF Believed to be the FTX Hacker

Many people speculate that the potential launch of an ETH-based ETF is one of the main catalysts behind the movement of these coins. At the same time, many believe that Sam Bankman-Fried, the former CEO of the FTX exchange, is the actual hacker. It is worth noting that the recent developments take place when the disgraced CEO’s criminal trial is right around the corner.

However, if these suspicions turn out to be true, SBF might be trying to get rid of his stash before his fate is ultimately sealed in court. At present, the trial is expected to last six weeks, with the selection of the jury beginning on October 3. SBF currently faces a total of seven charges connected to fraudulent activities.


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