1 year ago
On Nov. 20, on-chain detective ZachXBT acceptable retired a Twitter thread to debunk the 3 astir commonly misunderstood issues surrounding the FTX case.
The 3 areas ZachXBT acceptable retired to screen were:
- Bahamian officials being down the FTX hack
- Exchanging knowing the individuality of the hacker
- The FTX hacker trading meme coins.
1/ I person seen a ton of misinformation being dispersed connected Twitter and successful the quality astir the FTX lawsuit truthful fto maine debunk the 3 astir communal things I’ve seen
“Bahamian officials are down the FTX hack”
“Exchanges cognize who the hacker is”
“FTX hacker is trading meme coins” pic.twitter.com/IAtHnpJI44
— ZachXBT (@zachxbt) November 20, 2022
ZachXBT began by alleging that the ‘0x59’ wallet was a blackhat code and not affiliated with either the FTX squad oregon Bahamian officials.
The hacker utilized precise precocious slippage successful trades erstwhile selling tokens for Ethereum (ETH), DAI, and BNB and was past bridged to debar the assets being frozen connected Nov. 12. This sporadic behaviour was noted to beryllium “very different” from different addresses that withdrew from FTX by ZachXBT.
3/ The information 0x59 was dumping tokens and bridging sporadically was precise antithetic behaviour from the different addresses who withdrew from FTX and alternatively sent to a multisig connected chains similar Eth oregon Tron. https://t.co/WE3Zyax2ub
— ZachXBT (@zachxbt) November 20, 2022
ZachXBT pointed retired suspicious on-chain question pursuing a transaction of 3168 BNB from 0x59 to 0x24, past to Huobi – 0x24, having utilized perchance insecure services similar Laslobit.
ZachXBT explained that this behaviour was wholly antithetic from the accusation provided regarding the Debtors moving assets to acold retention oregon the Bahamian authorities moving assets to the integer plus custody platform, Fireblocks.
5/ This behaviour wholly differs what was said astir the Debtors moving assets to acold retention oregon Bahamian authorities moving assets to Fireblocks. pic.twitter.com/wMekRhzOPR
— ZachXBT (@zachxbt) November 20, 2022
Next, ZachXBT highlighted imaginable misinformation surrounding exchanges being alert of the hacker’s identity.
In effect to the “we cognize the individuality of the user” assertion from Kraken’s squad member, Nick Percoco, ZachXBT explained that it was apt the “FTX betterment broadside and not the attacker.” Additionally, ZachXBT asserted successful his thread that it was the FTX radical securing assets to a multi-signature wallet connected Tron — utilizing Kraken owed to the FTX blistery wallet being retired of state for transactions.
8/ This matched the behaviour for 0x97 multisig which had besides been funded via a CEX arsenic well. pic.twitter.com/J2uHIpe7Oj
— ZachXBT (@zachxbt) November 20, 2022
Lastly, covering the 3rd astir communal dispersed of misunderstanding, Zach addressed the rumors surrounding the FTX hacker trading meme coins.
Zach explained that the transfers were being spoofed to marque it look similar the FTX hacker wallet was trading meme coins. CryptoSlate reviewed the on-chain information and tin corroborate that the transactions look to travel from an alternate code which was funded done 1inch connected Nov.11.
The alternate code appears to person support to mint tokens specified arsenic WHATHAPPENED frankincense confirming the root of the token. To amended recognize however transactions tin beryllium spoofed connected the Ethereum network, a Medium article by Etherscan assemblage member, Harith Kamarul, explains the issue.
11/ Please triple cheque who you get your info from. Many radical are utilizing the FTX lawsuit to look knowledgeable for engagement erstwhile successful information they person zero hint what is going on.
— ZachXBT (@zachxbt) November 20, 2022
CryptoSlate reported the question of recently created ‘meme’ tokens from the FTX Exploiter relationship connected Nov. 11 with a absorption connected the transportation of tokens to Uniswap and the imaginable for a pump-and-dump scam. The nonfiction has been updated to see the transaction spoofing accusation for clarity.
The station Transfer spoofing evident successful FTX Exploiter wallet meme tokens transfers – ZachXBT appeared archetypal connected CryptoSlate.
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