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Recent data from Spot On Chain indicates that an address associated with the FTX exploit, identified as 0x3e9, has executed transfers totaling over 10,000 Ether (ETH), valued at approximately $17 million, across five distinct addresses since September 30. These addresses had been dormant for several months prior to this recent activity.
A considerable amount of the 7,749 ETH, estimated at around $13 million, was sent to the THORChain router and Railgun contract. Additionally, the exploiter performed a swap involving 2,500 ETH, valued at about $4.19 million, converting it into 153.4 tBTC at an average price of $27,281 per token.
At the time of the initial breach on Saturday, September 30, estimated losses were close to 50,000 ETH.
FTX Exploiter 0x3e9 has transferred out a total of 10,250 $ETH ($17.1M) via 5 addresses over the past 24 hours:
– 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/xzmDz8Vmma pic.twitter.com/4Ykp0zih6G— Spot On Chain (@spotonchain) October 1, 2023
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This hack occurs as the market looks forward to the launch of Ethereum futures ETFs on Monday, October 2.
The trial of FTX co-founder Sam Bankman-Fried is also scheduled to commence in October.
The proceedings are anticipated to last six weeks, starting with jury selection on October 3, followed by initial court sessions on October 4. Bankman-Fried faces seven charges related to fraudulent activities, which include two substantive charges and five conspiracy charges.
Related: Valkyrie pauses Ether futures contract purchases until ETF launch
The FTX founder has entered a plea of not guilty to all charges. Despite multiple attempts to obtain temporary release, Bankman-Fried remains in custody. Judge Lewis Kaplan denied his latest request for release, citing concerns regarding the potential for him to flee.
Magazine: Can you trust crypto exchanges after the collapse of FTX?
