Recent data from Spot On Chain reveals that an address associated with the FTX exploit, identified as 0x3e9, has been engaged in substantial transfers involving over 10,000 Ether, equivalent to approximately $17 million, across five different addresses since September 30. Notably, these addresses had remained dormant for several months before the recent activity.
A significant portion of the transferred Ether, totaling 7,749 ETH, valued at roughly $13 million, was directed towards the THORChain router and Railgun contract. Additionally, the exploiter executed a swap involving 2,500 ETH, equivalent to approximately $4.19 million, converting it into 153.4 tBTC at an average price of $27,281 per token.
It’s worth noting that the initial hack on September 30 resulted in approximate losses of nearly 50,000 ETH, indicating the magnitude of the security breach.
This incident unfolds against the backdrop of the eagerly anticipated launch of Ethereum futures ETFs on October 2, a development that has garnered significant attention in the cryptocurrency market.
🚨 FTX Exploiter 0x3e9 has transferred out a total of 10,250 $ETH ($17.1M) via 5 addresses over the past 24 hours:
— Spot On Chain (@spotonchain) October 1, 2023
– sent 7,749 $ETH ($13M) to the Thorchain router and Railgun contract
– swapped 2,500 $ETH ($4.19M) to 153.4 $tBTC at $27,281 on avg
Notably, the address has been… https://t.co/xzmDz8Vmmapic.twitter.com/4Ykp0zih6G
In addition to these developments, the trial of Sam Bankman-Fried, co-founder of FTX, is set to commence in October. The trial is scheduled to span six weeks, commencing with jury selection on October 3, followed by initial court proceedings on October 4. Bankman-Fried faces seven charges related to fraudulent activities, including two substantive charges and five conspiracy charges.
It’s noteworthy that Bankman-Fried has pleaded not guilty to all allegations. Despite several attempts to secure temporary release, he remains in custody. Judge Lewis Kaplan’s recent denial of his request for release cited concerns about the possibility of him fleeing.
As the cryptocurrency landscape continues to evolve, these developments underscore the ongoing challenges and complexities within the industry, including security vulnerabilities and legal proceedings involving prominent figures. These events are closely monitored by participants in the crypto space and legal observers alike.
Related: FTX Hacker Wallet Stirs Amid Ethereum ETF Hype