FTX hacker moves $120M amid Sam Bankman-Fried trial: Report
At the time of the hack, the converted amount was worth $87 million, or 18% of the overall stolen funds of $477 million.The FTX hacker used a similar laundering technique to the one deployed in November 2022, when the hacker transferred 65,000 ETH ($ 100 million) to BTC using the cross-chain bridge RenBridge. Source: EllipticElliptic pointed out that the FTX hacker lost $94 million in the days following the hack as the assaulter rushed to launder the funds through decentralized exchanges, cross-chain bridges and mixers.Related: FTX hacker could be utilizing SBF trial as a smokescreen: CertiKAlmost a year after the hack, the identity of the FTX burglar is still unidentified, Elliptic noted. The blockchain analytics firm suggested three possibilities for who might be behind the FTX theft: an FTX inside job, North Koreas Lazarus Group and Russia-linked criminal groups.
Thank you for reading this post, don't forget to subscribe!
Related Content
- Why did Bitcoin drop? Analysts point to 5 potential reasons
- Crypto exchange FTX gets nod to sell $873M of assets to repay creditors
- Bitcoin miners send record $128M in revenue to exchanges
- Galaxy predicts 74% Bitcoin price increase first year after ETF launch
- Inside the Takedown that Shredded the Myth of Crypto’s Anonymity