The hacker who used an exploit to steal money from the now-defunct FTX has been revealed as the 35th-largest Ethereum owner, holding a total of 228,523 ETH valued at $284.82 million.
The FTX Attack
According to well-known cryptocurrency security company PeckShield, the hacker converted the stolen funds into different transactions.
The company revealed that the hacker exchanged 37,000 ETH worth of $48 million in DAI for about 7,420 BNB on BSC. The exploiter additionally exchanged 3,500 BNB for 958,560.13 BSC-USD, 3,500 BNB for 962,071.43 BSC-USD, and 15,000 BNB for 3,899,020.38 BSC-USD in separate transactions.
The exploiter also used the Celer Network to bridge around 3.9 million exchanged BSC-USD to Ethereum before going to cBridge and Stargate Finance. The hacker exchanged them for 5.564.83 ETH.
The hacker stole $400 million from FTX wallets during the attack. It’s important to note that the attack happened on the same day that FTX requested bankruptcy protection.
The attacker also swapped the coins utilizing a variety of decentralized exchanges (DEX). One Inch, UniSwap, and CowSwap are some of these DEX. While attempting to transport the stolen money via various channels, the hacker lost a significant portion of it, according to forensic analysis from Arkham. Transferring the assets to other chains was one way the attacker tried to hide their tracks.
Hacker Has Been Identified
The hacker’s identity is no longer a secret, according to a new revelation revealed by Kraken CSO Nick Percoco. Percoco asserted in a tweet that the FTX attack’s culprit is known to the Kraken team.
The tweet was in reaction to a post by Mario Nawfal, CEO of the IBC Group, in which he claimed that the hacker was an inexperienced insider.
Following reports that the hacker moved the stolen funds through the bitcoin exchange, Kraken is collaborating with law enforcement to identify the culprit.
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