Millions in Ether Tied to FTX 'Hacker' on The Move
Around 2,500 ether (ETH), worth just over $4 million, tied to last year’s apparent exploit of the FTX exchange started moving early Saturday, blockchain data shows. Ether held in a wallet associated with the FTX accounts drainer began moving for the first time in nearly a year. The funds were split into two, and then a few times in subsequent transactions, with 700 ETH transferred using the Thorchain Router, about 1,200 ETH being moved through the Railgun privacy tool. Another 550 ETH is sitting in an intermediate wallet.
Railgun is a privacy wallet that lets users store tokens and use funds for decentralized financial services, such as lending and borrowing. These transactions are shielded, meaning the exact use of such funds is not known. On the other hand, Thorchain is a bridge that lets users swap tokens between different blockchains. Accounts tied to FTX and FTX US were drained on Nov. 11, 2022, mere hours after the company filed for bankruptcy and founder Sam Bankman-Fried resigned from the crypto empire he ran. The attacker took over $600 million worth of ether at the time. In a since-deleted tweet, the then FTX general counsel Ryne Miller said the exchange was taking “precautionary steps” to secure funds from other FTX wallets. John J. Ray III, the CEO and Chief Restructuring Officer of the FTX Debtors.
