Hackers who used exploits to steal funds from bankrupt FTX have emerged as the 35th largest Ethereum owner with a total of 228,523 ETH worth $284.82 million.
Having dumped all other exfiltrated assets into ETH, the FTX exploiter now has 228,523 ETH ($284.82 million) in its wallet, making it one of the largest holders in the world.
Everyone will have to watch very carefully what happens next… pic.twitter.com/SAP3UkyVaa
— Dylan LeClair 🟠 (@DylanLeClair_) November 15, 2022
Popular cryptocurrency security firm PeckShield has revealed that hackers converted stolen funds into separate transactions.
Office disclosed Hackers exchanged approximately 7,420 BNB for 1,500 ETH on BSC and $48 million in DAI for 37,000 ETH. Further, the exploiter said he traded 3,500 BNB at 962,071.43 BSC-USD, 3,500 BNB at 958,560.13 BSC-USD and 15,000 BNB at 3,899,020.38 BSC-USD.
Additionally, the abusers have bridged approximately 3.9 million swapped BSC-USD to Ethereum using Celer Network and then to cBridge and Stargate Finance. Hacker changed them to he 5.564.83 ETH.
During the attack, hackers stole $400 million from FTX wallets. It’s worth noting that the attack occurred on the same day that FTX filed for bankruptcy protection.
Additionally, the attackers used a number of decentralized exchanges (DEXs) to exchange the stolen funds. These DEXs include CowSwap, UniSwap, and 1 inch. However, Arkham’s forensic investigation found that he lost a large amount of funds when the hackers tried to move the stolen funds to another chain. Attackers tried to cover their tracks by transferring assets to other chains.
In a recent development, Kraken CSO Nick Percoco revealed that hackers’ identities are no longer hidden. In a tweet, Percoco claimed that the Kraken team knew the perpetrators of his attack on FTX.
The tweet was in response to a post by IBC Group CEO Mario Nawfal, who said the hackers were inexperienced insiders.
Kraken is working with law enforcement to uncover the identity of hackers after reports surfaced that hackers used cryptocurrency exchanges to move stolen funds.