In the fast-paced world of cryptocurrencies, hacks and thefts often make headlines. The infamous 2022 attack on FTX, a prominent cryptocurrency exchange, is back in the spotlight due to a recent change in the hacker's strategy, which has sparked speculation and surprise.

FTX, one of the largest cryptocurrency exchanges in the world, suffered a stunning attack in 2022 that resulted in the theft of a considerable amount of Ethereum. Initial estimates placed losses at up to $400 million, although after close review, FTX confirmed losses of approximately $323 million.

Renowned blockchain analyst Lookonchain made a surprising observation on October 6. The individual behind the FTX hack stopped using THORChain to hide his assets and shifted his attention to the Threshold Network.

The data suggests that the attacker converted 3,000 Ether (ETH), equivalent to $4.9 million, into tBTC via Threshold and then successfully laundered around 75,636 ETH (worth approximately $124 million) into Bitcoin. However, an alarming sum of 109,485 ETH, almost $180 million, still remains in his possession.

Threshold is a decentralized bridge that connects Bitcoin (BTC) and Ethereum, allowing users to exchange their assets for tBTC, an ERC-20 token that reflects the value of Bitcoin. Initially, the hacker used THORSwap, but this platform suspended its operations on October 6 to prevent illegal activities and design more effective security measures.

Prior to this suspension, the hacker was reported to have funneled at least $38 million in ETH through THORSwap and another privacy-focused platform called Railgun.

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