In the latest development surrounding the infamous FTX hack in November last year, the hacker known as the “FTX Accounts Drainer” has resurfaced moving thousands of exploited ETH.
On-chain data collected by various blockchain security companies has revealed the activities of these FTX hackers, who used crypto security tools to disguise their transactions while successfully transferring approximately US$8 million, equivalent to IDR 123.94 billion, in fraudulently obtained profits.
FTX Hacker Moves Stolen ETH
Coin Edition reported,
according to on-chain analytics platform Lookonchain, FTX Accounts Drainer has executed multiple transactions, each consisting of 2,500 ETH, totaling US$8.3 million.
These transactions have increased the hacker's holdings to 180,735 ETH, which currently has a value of over US$302 million, spread across 13 different crypto addresses.
What is very interesting is
use of crypto security tools such as RailGun and Thorchain to facilitate these transfers.
Surprisingly, this crypto transaction worth millions of US dollars only cost US$0.50.
This transaction occurred more than ten months after the perpetrator first succeeded in hacking the Bahamas-based crypto exchange owned by Sam Bankman-Fried.
On-chain data further revealed that the crypto wallet used by the hacker for this latest transaction still contained 12,500 ETH, with a value of approximately US$21 million.
Of this latest transaction, 700 ETH was sent via Thorchain Router, while 1,200 ETH was sent using RailGun. Additionally, there is an intermediary wallet that now holds an additional 500 ETH associated with the hack.
The FTX hack occurred on November 11, 2022, coinciding with the exchange's filing for Chapter 11 bankruptcy.
Amid financial chaos and uncertainty, Sam Bankman-Fried's crypto empire collapsed, leaving FTX and its sister company, Alameda Research, in a dysfunctional state.
Initial estimates after the hack indicated that the perpetrator had made off with more than US$600 million in ETH, making it the 35th largest holder of Ether.
Under the leadership of new CEO, John Ray III, FTX's new management has vigorously investigated this incident, working hard to recover the fraudulently exploited funds.