U.S. Department of Justice probing $372M FTX exploit - Report

According to a Bloomberg study published connected Dec. 27, the U.S. Department of Justice has launched an probe into the whereabouts of astir $372 cardinal successful missing integer assets from now-defunct cryptocurrency speech FTX and FTX US. On Nov. 12, amidst bankruptcy and interior collapse, FTX warned customers of abnormal wallet enactment regarding astatine slightest 228,523 Ether (ETH) transferred retired of the speech from an chartless perpetrator. 

On Nov. 11, oregon the nighttime of the company's bankruptcy filing, FTX US' wide counsel Ryne Miller confirmed that the transactions were unauthorized and that the subsidiary speech had moved each crypto to acold wallets arsenic a precaution. On Nov. 20, blockchain forensics steadfast Elliptic wrote that the unauthorized transfers amounted to $477 million, and the chartless perpetrator swapped the stolen Ether for RenBTC, earlier being bridged to Bitcoin done the RenBridge service. Ren was acquired by FTX-linked hedge money Alameda Research past twelvemonth and has been alleged by Elliptic to "launder hundreds of millions of dollars successful crypto." 

Disgraced FTX laminitis Sam Bankman-Fried claimed that the incidental was perpetrated by either a erstwhile FTX worker oregon idiosyncratic who had unauthorized entree to a erstwhile employee's computer. "I've narrowed it down to similar 8 people. I don't cognize which 1 it was," helium said successful an interrogation with national writer Tiffany Fong.

In the issue's past known update connected Nov. 29, crypto expert zachXBT alleged that a information of the stolen funds were transferred to Singapore-based speech OKX utilizing a Bitcoin mixer. Lennix Lai, manager of OKX, responded: "#OKX is alert of the situation, and the squad is investigating the wallet flow."

#OKX is alert of the situation, and the squad is investigating the wallet flow.

— lennixlai.eth (OKX) (@LennixOKX) November 29, 2022