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After ten months, the FTX exploiter moves 5,000 ETH and bridges to BTC

  • 👤 Ronald Chapman
  • 👁 1486
  • ⏰ Published: 2023-10-26 Time: 18:42:01
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    The FTX exploiter has finally moved funds from the primary address to other addresses in a series of transactions on September 30. 

    Through the two transactions of 2,500 Ether (ETH) each, the exploiter has moved a total of 5,000 ETH worth approximately $8.4 million to different addresses. 

    FTX Hacker Transfers Funds
    FTX Hacker Transfers Funds

    While most of the funds still remain in ETH, it has turned nearly 1,950 ETH into BTC and tBTC, a Bitcoin derivative token of the Threshold network.

    The exploiter transferred 2,500 ETH in the first transaction, from which 700 ETH is bridged to Bitcoin via ThorChain and over 1,249 ETH to Railgun, a privacy smart contract. The exploiter later reverted 1,197 ETH from Railgun to a different address.

    After a couple of hours, the exploiter transferred another 2,500 ETH in a second transaction via same pattern while swapping 1,250 ETH into approximately 76.8 tBTC.

    The hacker address still holds over 10,000 ETH worth approximately $16.7 million. It has moved out funds for the first time after 10 months. The November 2022 exploit drained 15,000 ETH from FTX exchange.

    Also Read: Mixin Network Offers $20M Bug Bounty to Retrieve Stolen Funds

    Gopal is a passionate crypto researcher & writer with a keen interest in innovations. Being in crypto space for over 4 years of period, he has gained extensive knowledge and technical understanding in DeFi by studying various protocols and decentralized infrastructures.

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    Author: Ronald Chapman

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    Introduction: My name is Ronald Chapman, I am a expert, persistent, apt, striking, proficient, unswerving, steadfast person who loves writing and wants to share my knowledge and understanding with you.