- Chainalysis alerts exchanges to keep an eye out for illicit transfers of stolen FTX funds.
- Funds on FTX being transferred to The Bahamas Securities Commission were false.
- Chainalysis promises to work with partners to help secure as many assets as possible to return to depositors.
Chainalysis, the blockchain data provider for criminal investigation, took to Twitter to inform crypto exchanges to keep an eye on funds being transferred from FTX Global and related debtors without authorization. Chainalysis notified the exchanges to freeze transfers if it detected any illicit transactions.
Moreover, in a follow-up tweet in the thread, Chainalysis clarified that news about stolen funds on FTX being transferred to The Bahamas Securities Commission was false.
Chainalysis’s tweet read:
“Reports that the funds stolen from FTX were actually sent to the Securities Commission of The Bahamas are incorrect. Some funds were stolen, and other funds were sent to the regulators.”
Subsequently, Chainalysis, while sharing the details of how the transfers were taking place, added that “Funds were bridged from ETH to BTC, likely to be mixed prior to a cash out attempt.”
In a tweet, Chainalysis embedded an image in Reactor that demonstrates how the transfer happened.
Kamikaz ETH, a DeFi Analyst, tweeted that the hacker was dumping Ethereum on-chain. Specifically, Kamikaz stated that the exploiter had dumped around $15 million ETH in the previous 30 minutes and had just prepared a fresh $12 million batch.
Although Kamikaz says that the hacker had $270 million left in his wallet, the numbers that kamikaz said that the hacker holds seem to contradict what Beosin, a blockchain security firm, tweeted.
Beosin tweeted that on November 15 the hacker had conducted multiple swap and cross-chain operations. Furthermore, the firm stated that the hacker had approximately $338,598,702 of assets under their position.
Subsequently, Chainalysis pledged to work with partners to help secure as many assets as possible to return to depositors.
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