Technology

FTX hacker dumps 50,000 ETH, still among top 40 Ether holders

The hacker behind the bankrupt cryptocurrency exchange FTX started transferring their Ether (ETH) holding to a new wallet address on Nov. 20. The FTX wallet drainer was the 27th largest ETH holder after the hack but dropped by 10 positions after the weekend ETH dump. The FTX hacker drained nearly $447 million out of multiple FTX global and FTX US exchange wallets just hours after the crypto exchange filed for Chapter 11 bankruptcy on Nov. 11. Majority of the stolen funds were in ETH, making the exploiter the 27th largest ETH whale. On Nov. 20, the FTX wallet drainer 1 transferred 50,000 ETH to a new address, 0x866E. The new wallet address then swapped the ETH for renBTC (ERC-20 version of BTC) and bridged to two wallets on the Bitcoin blockchain. One of the wallets bc1qvd…gpedg held 1,070 renBTC while another wallet bc1qa…n0702 held 2,444 renBTC. Crypto analytic group CertiK later tracked the bridged renBTC on bc1qvd…gpedg address and found that the address employed a money laundering technique called peel chain to launder the renBTC.

Full story : FTX hacker dumps 50,000 ETH, still among top 40 Ether holders.

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