Hacker linked to dissolved FTX exchange actively converting Ethereum into Bitcoin By Investing.com
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The hacker associated with the now-defunct FTX exchange, dubbed the ‘FTX drainer’, has been actively converting large amounts of (ETH) into (BTC). The transactions include transfers of 5,624 ETH, 15,000 ETH, and 30,000 ETH. This information was reported by CertiK Alert, a service that tracks illicit activities in the crypto space.
These transactions coincide with the upcoming trial of Sam Bankman-Fried, the former CEO of FTX. However, no concrete connections have been confirmed between these events. The hacker has been employing a peel chain money laundering technique across more than 80 Bitcoin wallets.
FTX first labeled the incident in November 2022 as a hack through its Telegram channel but later revised its statement, calling it “unauthorized access”. This change in terminology has sparked conjecture about a potential inside job within the FTX circle. Despite these suspicions, no conclusive evidence has been presented to substantiate these claims.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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The hacker associated with the now-defunct FTX exchange, dubbed the ‘FTX drainer’, has been actively converting large amounts of (ETH) into (BTC). The transactions include transfers of 5,624 ETH, 15,000 ETH, and 30,000 ETH. This information was reported by CertiK Alert, a service that tracks illicit activities in the crypto space.
These transactions coincide with the upcoming trial of Sam Bankman-Fried, the former CEO of FTX. However, no concrete connections have been confirmed between these events. The hacker has been employing a peel chain money laundering technique across more than 80 Bitcoin wallets.
FTX first labeled the incident in November 2022 as a hack through its Telegram channel but later revised its statement, calling it “unauthorized access”. This change in terminology has sparked conjecture about a potential inside job within the FTX circle. Despite these suspicions, no conclusive evidence has been presented to substantiate these claims.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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