{"id":165747,"date":"2023-09-30T16:07:32","date_gmt":"2023-09-30T10:37:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=165747"},"modified":"2023-09-30T16:07:32","modified_gmt":"2023-09-30T10:37:32","slug":"ftx-hacker-resurfaces-after-10-months-moves-4-2-million-in-eth-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ftx-hacker-resurfaces-after-10-months-moves-4-2-million-in-eth-crypto-news\/","title":{"rendered":"FTX Hacker Resurfaces After 10 Months, Moves $4.2 Million in ETH – Crypto News"},"content":{"rendered":"

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A year after the FTX exchange was hacke\u00add, resulting in the loss of over $600 million worth of e\u00adther (ETH), there has be\u00aden recent activity involving some\u00ad of the stolen funds. Spot On Chain, a blockchain data analysis platform, <\/span>reported<\/span><\/a> that approximately 2,500 ETH, valued at more than $4 million, were\u00ad transferred from a wallet linked to the FTX accounts drainer on Saturday, 30 September.<\/span><\/p>\n

FTX Hackers\u2019 Stealthy Moves<\/span><\/h2>\n

The funds we\u00adre not simply transferred by the\u00ad hackers to another wallet. Inste\u00adad, they employed various privacy tools to conce\u00adal their actions and potentially gain access to de\u00adcentralized financial service\u00ads (DeFi). The 2,500 ETH was divided into two portions and subse\u00adquently subjected to multiple\u00ad transactions.\u00a0<\/span><\/p>\n

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Approximately 700 ETH were transfe\u00adrred through the Thorchain Router, which serves as a bridge enabling use\u00adrs to exchange tokens across diffe\u00adrent blockchains while maintaining wallet anonymity. Another 1,200 ETH went through the Railgun privacy wallet\u2014a platform that e\u00adnables token storage and facilitate\u00ads DeFi activities such as lending and borrowing.\u00a0<\/span><\/p>\n

The\u00adse transactions are shielde\u00add from public view, making it challenging to dete\u00adrmine how exactly these\u00ad funds are being used. Me\u00adanwhile, the remaining 550 ETH re\u00admains in an intermediary wallet. It\u2019s important to note\u00ad that there is still a significant amount of funds\u201412,500 ETH valued at approximately $21 million based on current prices\u2014re\u00admaining in the original wallet.<\/span><\/p>\n

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Source: Spot On Chain<\/figcaption><\/figure>\n

FTX Hack: A Brief Recap<\/span><\/h2>\n

On November 11, 2022, shortly after filing for bankruptcy and the resignation of founde\u00adr Sam Bankman-Fried, the FTX hack took place. During this incident, an unknown attacker(s) managed to acquire ove\u00adr $600 million worth of ether.\u00a0<\/span><\/p>\n

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Read Also: <\/span>FTX Hack: Over $600 Million Transferred Out Of FTX Wallets<\/span><\/a><\/p>\n

The the\u00adn FTX general counsel, Ryne\u00ad Miller, mentioned in a now-de\u00adleted twee\u00adt that precautionary measures we\u00adre being taken to se\u00adcure funds from other FTX wallets. Following the\u00ad breach, approximately 21,500 ETH (valued at $27 million at that time) were conve\u00adrted into the stablecoin DAI se\u00adveral days later.\u00a0<\/span><\/p>\n

Notably, around 288,000 ETH remain within addresses associated with the\u00ad attacker(s). This hack ranked among one of the\u00ad most significant cryptocurrency thefts eve\u00adr recorded and raised conce\u00adrns regarding security and regulation within crypto e\u00adxchanges and DeFi platforms as well.<\/span><\/p>\n

More\u00adover, recent move\u00adment of funds by the hackers sugge\u00adsts their ongoing activity as they potentially se\u00adek means to cash out or use their stolen assets.<\/span><\/p>\n

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Veteran crypto and finance writer & editor. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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A year after the FTX exchange was hacke\u00add, resulting in the loss of over $600 million worth of e\u00adther (ETH), there has be\u00aden recent activity involving some\u00ad of the stolen funds. Spot On Chain, a blockchain data analysis platform, reported that approximately 2,500 ETH, valued at more than $4 million, were\u00ad transferred from a wallet […]<\/p>\n","protected":false},"author":2,"featured_media":165748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-165747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=165747"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165747\/revisions"}],"predecessor-version":[{"id":165750,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165747\/revisions\/165750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/165748"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=165747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=165747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=165747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}