The Timeline of Chaos

It was a day like any other—until it wasn’t. On November 11, 2022, just as FTX filed for bankruptcy, a mysterious hacker swooped in like a modern-day Robin Hood turned supervillain, draining over $450 million from the crypto exchange. Talk about bad timing! The latest in this saga? The hacker is still at it, continuing to siphon assets even four days post-heist.

What’s Happening with the Hacker Wallet?

As per the crypto detectives over at Certik, the hacker’s wallet is still actively draining crypto assets from both FTX and FTX US. Currently, this digital bandit boasts a gothic stash of $62 million worth of assets—and it seems like it’s just getting started!

• Since November 12, the wallet has received a whopping 3.2 billion meme tokens.
• Among these are tokens that you might not want to show your grandma—think ‘FTX Sucks’ and ‘Fuck FTX.’
• The hacker has been sharing the love, sending 2.8 billion of these tokens into popular addresses. Because, who doesn’t love a little chaos?

Token Spoofing: Magic or Misunderstanding?

Now, if you thought this whole scenario was already bizarre, buckle up! Crypto analyst ZachXBT claims that a lot of this fund movement is just good old on-chain token spoofing. Opens the Pandora’s box of crypto intrigue, right? Essentially, the ERC-20 token system allows for some clever manipulation where tokens can appear to come from different addresses. Talk about identity issues!

Was it an Inside Job?

The hum of speculation around whether this was an inside job is getting louder. After all, how does someone drain assets from both FTX and FTX US simultaneously, considering they operate independently? Certik’s security operations director Hugh Brooks weighed in, theorizing that the movements were possibly orchestrated by someone with insider access. Cue the dramatic music!

Kraken Knows More Than They’re Letting On

In the closing act of this strange performance, Kraken’s chief security officer, Nick Percoco, hinted that they might know the user’s identity but decided to keep things hush-hush. Spoiler alert: we’re left hanging. Certik might have inferred that some crypto-cold wallet shenanigans were at play, thus adding an extra layer of mystery.

In a world where millions can vanish in an instant, keep your digital wallets close and your passwords closer—but always expect the unexpected!