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FTX’s Hacker on the Move: 15,000 ETH Transacted

FTX’s Hacker on the Move: 15,000 ETH Transacted

FTX’s mysterious hacker has reemerged, transferring 15,000 ether (ETH) from a wallet linked to last year’s astounding $600 million heist on the cryptocurrency exchange.The transaction occurred shortly before FTX founder and former CEO, Sam Bankman-Fried, prepares to go on trial, thickening the plot around the exchange’s downfall in 2022.

Also Read: FTX Lawsuit: Exchange Sues Former Employees of Affiliate Company

FTX’s Bankruptcy and Hacking Fallout

In November 2022, FTX and its related companies filed for bankruptcy. Mere hours after the filing, an unknown party managed to drain various wallets linked to the exchange, taking a staggering $600 million. From this sum, roughly $26 million worth of ETH – 15,000 ether – was in a single wallet.

This weekend, the wallet saw action for the first time since the notorious attack. 2,500 ETH ($4 million) moved through privacy tools and bridges, eventually leading to the Thorchain bridge, the Railgun privacy wallet, or intermediary addresses.

Also Read: Ex-FTX Executive Ryan Salame to Plead Guilty in Criminal Case

Market Reactions and Expert Analyses

The sudden movement of funds from the FTX hacker’s ether stash has sent ripples through the cryptocurrency community. Market analysts are scrambling to determine the motives behind the transfer, and whether this weekend’s activities foreshadow a more extensive liquidation attempt.

Some experts also believe that this move may be tied to Bankman-Fried’s upcoming trial, and the FTX hacker might employ it as a bargaining chip or to dispose of the stolen funds to avoid legal consequences.

In the meantime, let’s help you find the best crypto exchange for your needs!

Disclaimer: Please note that this article serves solely for informational purposes. As such, it is not financial advice. We strongly advise readers to conduct thorough research and consult with financial professionals before making any investment decisions.


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