FTX's Notorious Hacker Strikes Again, Shifts Over 5K ETH into Bitcoin

FTX’s Notorious Hacker Strikes Again, Shifts Over 5K ETH into Bitcoin

In a recent development, CertiK has uncovered fresh activity associated with the enigmatic figure known as the ‘FTX hacker.’

Specifically, their monitoring tool detected a substantial conversion of 5,624 Ethereum (ETH) into Bitcoin (BTC) via a bridging transaction.

This development closely follows alerts indicating the resurgence of the hacker responsible for siphoning millions from the now-defunct FTX exchange.

Remarkably, the CertiK Alert system had previously issued warnings suggesting that the hacker might embark on bridging up to 30,000 ETH into BTC just days prior to this conversion.

Notably, on 30 September, CertiK identified the hacker’s initiation of the conversion of approximately 15,000 ETH into BTC.

This marked a significant departure from their previous transaction history, with the last recorded activity dating back to November 2022.

Delving deeper into the hacker’s methods, CertiK’s report sheds light on the utilisation of a peel chain, a money laundering technique characterised by the movement of funds across numerous wallets, with incremental splits of minuscule amounts in each transaction.

As of 2 October, this bridging process had impacted over 80 Bitcoin wallets, which had seen their balances drained as a result of these transactions.

The latest update from Certik showed that the ETH was bridged to THOR.

The timing of this flurry of activity warrants scrutiny, occurring mere days before the commencement of the fraud trial of former FTX CEO Sam Bankman-Fried (SBF).

Although the proximity in timing has naturally raised questions, it is essential to note that no definitive connections have been established between the ongoing trial and the recent manoeuvre of the elusive hacker.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.

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