In November 2022, just several hours after FTX filed for bankruptcy, an unknown party managed to drain various wallets of the exchange for as much as $600 million. Starting last week, the hacker has managed to pass over 75,000 $ETH using various platforms.
This sudden movement of funds coincided with the beginning of SBF's criminal trial in a federal court in New York this week.
The hacker first used THORSwap to move $ETH to Bitcoin network from last week. On Friday, THORSwap decided to shift its protocol into "maintenance" mode to curtail any further potential illicit activity. THORSwap will remain in this mode until a more robust solution can be implemented to ensure the platform does not invovled in these illicit activity.
Shortly after the THORSwap suspended its service, the FTX exploiter started swapping $ETH for tBTC and cross-chained to the Bitcoin network using Threshold Network. Threshold network has released a patch update to node operators and said in Twitter that remaining pending FTX exploiter transactions will not be processed.
The FTX exploiter currently holds 109,485 $ETH according to the Lookonchain data.
Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!
Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com
FTX
Security Incidents
