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HomeEthereumFTX Hacker Moves $199 Million Worth of Ethereum (ETH) to Different Wallets

FTX Hacker Moves $199 Million Worth of Ethereum (ETH) to Different Wallets

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Alex Dovbnya

The FTX pockets drainer has transferred roughly $200 million value of Ethereum (ETH) to numerous addresses

In line with data supplied by blockchain safety agency PeckShield, the hacker who hijacked the now-bankrupt FTX cryptocurrency change has simply transferred 180,000 Ethereum (ETH) tokens to 12 completely different addresses.

The aforementioned tokens are value roughly $199 million on the time of writing. 

The dangerous actor drained roughly $447 million out of the failed change and its US-based subsidiary shortly after FTX International filed for chapter. 

The FTX pockets drainer immediately grew to become one of many largest holders of the second-largest cryptocurrency. 

On Nov. 20, the pockets moved 50,000 ETH tokens to a brand new handle. The hacker then swapped the stolen tokens to Ren Bitcoin (renBTC), a model of Bitcoin that’s powered by the Ethereum blockchain. Notably, the renBTC token has ties to Alameda Analysis, a failed buying and selling agency intently linked to FTX Group. renBTC is then transformed into Bitcoin with the assistance of a bridge.  

In line with security-focused blockchain analytics platform CertiK, the hacker is laundering the ill-gotten crypto by way of a number of intermediate addresses, which is a transaction sample generally known as a “peel chain.”

ETH is presently buying and selling at $1,114 after declining 8.9% during the last 24 hours. 

It stays unclear whether or not the hacker will handle to money out the laundered crypto since it could be very difficult on account of many eyeballs monitoring the latest actions related to the handle.  

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