Research Firm Elliptic Links FTX Hack to Russian Attackers Research by blockchain intelligence firm Elliptic
has revealed potential links between the FTX hacking incident last November, which resulted in an estimated
$400 million loss, and Russian-based cybercrime groups.
The majority of the stolen assets,
primarily in Ether (ETH), had remained dormant for five days following the breach, before a significant portion of the funds was exchanged
to Bitcoin (BTC) using the RenBridge cross-chain tool.
Around 65,000 ETH, worth approximately
$100 million, were reportedly exchanged into Bitcoin in this way. The news was first reported by CoinDesk on Thursday, citing research shared
with them by Elliptic. So far, the suspects
have ranged from rogue FTX employees doing an inside job to the North Korean hacker group Lazarus, which has been associated with various
crypto protocol exploits.
However, most on-chain evidence, according to Elliptic,
points toward Russian groups.
