Technology

Notorious FTX Hacker Resurfaces, Shifts 5,684 ETH into Bitcoin – Crypto News

Published

3 years ago

October 5, 2023

Dripp

CertiK, in a recent development, has reported fresh activity linked to the notorious FTX drainer. Specifically, the tool spotted a significant conversion of 5,624 ETH to BTC through a bridging transaction. This step follows closely after alerts indicated that the hacker responsible for siphoning millions from the now-defunct FTX exchange was back in action. The monitoring tool had, moreover, issued warnings about the hacker potentially bridging up to 30,000 ETH to BTC just days before.

The CertiK Alert has been invaluable in these observations. On September 30, they identified that the hacker had started converting approximately 15,000 ETH to BTC. Significantly, the last noted transaction before this activity was in November 2022.

FTX Hacker Drains 80 Bitcoin Wallets

Digging deeper into the hacker’s methods, CertiK’s report highlights using a peel chain. This money laundering technique involves the transfer of funds between numerous wallets, splitting off minuscule amounts with each transaction. As of October 2nd, over 80 Bitcoin wallets have felt the pinch, drained during this bridging process.

Additionally, this flurry of transactions seems curiously timed, since It took place mere days before the fraud trial of former FTX CEO Sam Bankman-Fried. While the timing has piqued interest, no tangible connections have been established between the trial and the hacker’s recent moves.

FTX’s Hope Rises with Anthropic’s Boost

Anthropic, a competitor of OpenAI in the tech arena, recently unveiled a substantial influx of capital. The firm has garnered about $4 billion from Amazon and another $2 billion courtesy of Google. This financial upswing holds significant implications for FTX creditors, especially given FTX’s prior commitment of $500 million to Anthropic just a year ago.