In a baffling turn of events, the funds stolen during last year’s $600 million attack on FTX’s wallets have resurfaced just ahead of the impending trial of the exchange’s former CEO, Sam Bankman-Fried. The enigma deepens around the collapse of the prominent crypto exchange.
According to a recent report, the purloined 15,000 ether (ETH), dormant in a wallet linked to the audacious heist, has now traversed through an array of privacy-enhancing tools and bridges. This movement began in earnest over the weekend when an initial 2,500 ETH (equivalent to $4 million) was set in motion. The voyage ultimately led to destinations including the Thorchain bridge, Railgun privacy wallet, and various intermediary addresses.
Subsequently, the remainder of the stolen assets embarked on their journey, with many finding their way to the Thorchain router. Some funds also stopped at a contract cryptically labeled “Metamask: Swap Router.”
The Railgun privacy wallet is a bastion for users seeking to safeguard tokens and engage in decentralized financial activities, such as lending and borrowing. Transactions within this ecosystem are veiled, shrouding the precise utilization of these funds. Conversely, Thorchain operates as a conduit, allowing users to seamlessly exchange tokens across diverse blockchains, free from interference concerns.
FTX’s $32 Million Ether Surge
According to recent evaluations, the addresses associated with the hack may have been used to transfer more than $32 million worth of ether through THORChain. This sudden influx of funds emerged when Sam Bankman-Fried was about to go on trial, casting a shadow over the unresolved mystery surrounding FTX’s catastrophic collapse last year. The culprits behind the attack are still unknown.
After the breach, several addresses amassed diverse tokens, including ETH and the dai (DAI) stablecoin, consolidating them into a staggering 37,000 ether. At its zenith, the address held an excess of 288,000 ether, securing its position as the 35th-largest holder of the cryptocurrency.
Federal prosecutors levied charges against Bankman-Fried last year, accusing him of two counts of wire fraud and five counts of conspiracy to commit various forms of fraud. These legal actions transpired mere weeks after his resignation from the helm of FTX, which coincided with the exchange’s bankruptcy filing.
Related Reading: | FTX Hack Perpetrator Resurfaces With $4M Moves Amidst Ethereum ETF Excitement