1 year ago
The blockchain analytics steadfast Elliptic didn't regularisation retired the anticipation of an FTX wrong occupation being down the $477 cardinal hack.
Anonymous hackers of the now-defunct speech FTX person been moving ample amounts of assets stolen from the platform, with caller transactions occurring conscionable arsenic the ongoing proceedings of FTX laminitis Sam Bankman-Fried gets underway.
As overmuch arsenic 72,500 Ether (ETH) of stolen assets from FTX has awakened for the archetypal clip since the exchange was hacked successful November 2022, the blockchain analytics steadfast Elliptic reported connected Oct. 12.
According to Elliptic, the thief has converted $120 cardinal worthy of ETH into Bitcoin (BTC) done the multi-chain decentralized speech (DEX) THORSwap since Sept. 30, 2023.
The archetypal converting transactions were made conscionable a fewer days earlier Bankman-Fried’s proceedings started connected Oct. 3. At the clip of the hack, the converted magnitude was worthy $87 million, oregon 18% of the full stolen funds of $477 million.
The FTX hacker applied a akin laundering method to the 1 deployed soon they stole the funds erstwhile the thief transferred 65,000 ETH ($100,000) to BTC utilizing the cross-chain span RenBridge successful November past year.
“The 180,000 ETH that was not converted to Bitcoin done RenBridge remained dormant until the aboriginal hours of Sep. 30, 2023 — by which clip it was worthy $300 million,” Elliptic wrote successful the caller report.
Daily fig of transactions involving FTX stolen assets. Source: EllipticElliptic mentioned that the FTX hacker mislaid $94 cardinal successful the days pursuing the hack arsenic the attacker rushed to launder the funds done decentralized exchanges, cross-chain bridges and mixers.
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Almost a twelvemonth aft the hack, the individuality of the FTX thief is inactive unknown, Elliptic noted. The blockchain analytics steadfast suggested 3 imaginable possibilities for who could beryllium down the FTX theft, including an FTX wrong job, North Korea’s Lazarus Group and Russia-linked transgression groups.
“Some FTX employees would person had entree to the business’s crypto assets successful bid to determination them for operational reasons. In the chaos surrounding the company’s bankruptcy and collapse, it whitethorn person been imaginable for an interior histrion to instrumentality these assets,” the Elliptic’s study reads.
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