$415 Million FTX Hacker Moves ETH Exploited From The Exchange

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$415 Million FTX Hacker Moves ETH Exploited From The Exchange
  • The hacker behind the $415 million FTX exploit recently moved millions worth of ETH.
  • The exploiter has moved a total of $8 million worth of crypto assets via Railgun and Thorchain. 
  • The on-chain transfers came more than ten months after FTX was initially hacked. 

The hacker behind the multi-million FTX hack of November last year recently moved thousands of exploited ETH. On-chain data gathered by several blockchain security firms showed that the hacker used crypto privacy tools to obscure their transactions and move around as much as $8 million in exploited funds. 

On-chain analytics platform Lookonchain reported earlier today that the FTX Accounts Drainer transferred over 5,000 ETH worth $8.3 million through in separate transactions of 2,500 ETH each. Following the transactions, the FTX hacker held 180,735 ETH worth more than $302 million across 13 crypto addresses. 

The hacker used crypto privacy tools like RailGun and Thorchain to make the transfers. Interestingly, the multi-million dollar crypto transactions cost the hacker a mere $0.50. The transfers took place more than ten months after the hacker initially exploited the Bahamas-based crypto exchange owned by Sam Bankman-Fried. 

On-chain data showed that the crypto wallet that was used by the hacker to make the transactions earlier today had 12,500 ETH worth approximately $21 million remaining. The hacker transferred 700 ETH via Thorchain Router and 1,200 ETH through RailGun. Meanwhile, an intermediate wallet held another 500 ETH tied to the hack. 

The hack occurred on November 11, 2022, shortly after FTX filed for Chapter 11 bankruptcy. Following days of uncertainty surrounding its finances, Sam Bankman-Fried’s crypto empire came crashing down, with FTX and its sister firm Alameda Research left defunct in its wake. 

Initial estimates suggested that the hacker stole over $600 million worth of ETH at the time, becoming the 35th largest holder of Ether. Under the new CEO John Ray III, FTX’s new management has been investigating the matter in an effort to recover the exploited funds. 

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