- The collapsed cryptocurrency exchange FTX was hacked for nearly $500 million in crypto last November, and the hacker is slowly offloading the funds.
- PeckShield recently spotted a transaction of around 2,888 Bitcoin worth $10 million that came from the FTX hack.
- The hacker has been actively sending large amounts of the stolen Ethereum to major exchanges recently in an attempt to sell it off.
The collapsed cryptocurrency exchange FTX was exploited for nearly $500 million in crypto last November. The hacker has been slowly offloading the stolen funds, and blockchain sleuths have now spotted another large transaction.
The Recent Bitcoin Transaction
PeckShield published a report about spotting a transaction of around 2,888 Bitcoin worth almost $10 million. This Bitcoin came from the funds stolen from FTX after its collapse.
Details of the FTX Hack
When FTX went down last November, a hacker stole around $500 million in cryptocurrencies. The hacker quickly exchanged nearly all of the stolen crypto into 180,000 Ethereum. Recently, the hacker has been shifting large amounts of this Ethereum to major US exchanges.
Attempts to Swap the Stolen ETH
In early October, the hacker moved 75,636 ETH to ThorSwap to exchange for tBTC. However, ThorSwap suspended operations to prevent the swap. The hacker then turned to Threshold Network but was again blocked from exchanging the stolen ETH.
Ethereum Transactions to Exchanges
According to Whale Alert, the hacker has been actively sending ETH to exchanges recently. There have been several large transactions of around 50,000 ETH sent to Coinbase, Kraken, and others. The hacker appears to be selling off the stolen ETH.
The FTX hacker continues finding ways to liquidate the stolen crypto. The recent Bitcoin transaction spotted by PeckShield shows the hacker is still offloading funds bit by bit. Blockchain analysis firms are keeping a close watch as the story continues to unfold.