FTX Exploiter Moves $36.8 Million in Ether Amid Ongoing Court Trials

Recent Transactions from the FTX Exploiter

In a startling move, the wallet linked to the notorious FTX exploiter shifted approximately $36.8 million in Ether (ETH) within a single day. This event comes as former FTX CEO Sam Bankman-Fried (SBF) faces the music in court, a stark reminder of the chaotic aftermath following FTX’s dramatic collapse.

The Hack That Shook the Crypto World

On November 11, 2022, the very same day FTX announced its Chapter 11 bankruptcy, a staggering $600 million was drained from accounts associated with FTX and FTX.US. General counsel Ryne Miller attempted to keep traders informed, warning:

“FTX has been hacked. Chat is open. Please don’t go to the FTX site, as it might download Trojans. Note that some funds were retrieved.”

Fund Transfers Resurface After Months

Fast forward nearly ten months of radio silence, and the FTX exploiter made an unexpected return to action, initiating withdrawals of stolen funds. The first move involved a notable transfer of 10,250 ETH valued at around $17.1 million, occurring between September 30 and October 1. According to Spot On Chain, the exploiter’s earlier stash of 175,496 ETH has dwindled to $196.014 million.

Portfolio Activity Breakdown

Since the exploiter’s return, a total of 67,500 ETH has been offloaded from five of the exploiter’s fifteen addresses. Notably,

• 64,948 ETH (equivalent to $108 million) was transferred using the THORchain router.
• 52 ETH (around $84,000) went to the Railgun contract.
• An additional 2,500 ETH (valued at $4.19 million) was swapped for Bitcoin (tBTC).

Bankman-Fried’s Ongoing Trial

As the FTX saga continues, Sam Bankman-Fried is vigorously defending himself against fraud and money laundering charges in a trial that kicked off on October 3. A notable highlight from the proceedings includes contrasting perspectives:

The DOJ asserts that SBF misled investors while his defense paints him as a young entrepreneur making questionable business decisions.

The trial remains a gripping tale of ambition gone awry, painting a complex portrait of SBF as the courtroom battle unfolds.