Unraveling the Saga of the FTX Exploiter
The crypto community is buzzing with news about the FTX exploiter, who has just moved a jaw-dropping $36.8 million in Ether (ETH) over the last 24 hours. This comes at a rather interesting time as the courtroom drama unfolds for Sam Bankman-Fried (SBF), the former CEO of the now-defunct FTX. Talk about a plot twist, right?
The $600 Million Heist
In the ugly aftermath of FTX’s Chapter 11 bankruptcy filing, a staggering $600 million was siphoned from accounts linked to the platform back on November 11, 2022. FTX’s general counsel, Ryne Miller, warned users of the hack that could download malware on their devices, essentially a techy version of a “don’t go there” sign:
“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.”
Ten Months of Silence Shattered
After almost 10 months of inactivity, the exploiter has begun to resurface, draining the coffers with a first move of 10,250 ETH (worth $17.1 million) through four separate addresses. It seems like the clock struck the right hour for this digital Robin Hood, but no one is laughing on the other side.
Declining Portfolio Balance
Initially, this digital marauder flaunted a whopping 175,496 ETH, worth around $294 million. Fast forward to today, and that balance has effectively shrunk to about $196.014 million. Business might be booming in the exploit world, but it’s nothing like it used to be!
Transaction Breakdown
Since Sept. 30, the FTX exploiter has moved a total of 67,500 ETH across five of the 15 wallet addresses connected to their nefarious activities. An impressive 64,948 ETH (approximately $108 million) was funneled through the THORchain router while 52 ETH ($84,000) made its way to the Railgun contract. Just to add a spritz of drama, 2,500 ETH (around $4.19 million) was exchanged for Bitcoin.
The Courtroom Circus Unfolds
On a slightly more serious note, SBF’s courtroom drama commenced on Oct. 3, with the entrepreneur pleading not guilty to all seven counts of fraud and money laundering. While prosecutors are honing in on his alleged role in misleading investors, SBF’s defense insists that he’s merely a young entrepreneur whose business choices didn’t pan out as expected. Spoiler: the jury is definitely in for a show.
As we keep our eyes on this unfolding saga, who knows what the next move will be for either the crypto exploiter or Bankman-Fried? Buckle up; it seems we’re in for a wild ride ahead!
