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FTX hacker could be using SBF trial as a smokescreen: CertiK

– The hacker who stole over $400 million from FTX and FTX US in November may be using the attention around Sam Bankman-Fried’s fraud trial to hide the funds, says CertiK’s director of security operations Hugh Brooks.

– Just before Bankman-Fried’s trial started, the hacker known as “FTX Drainer” began moving millions in Ether gained from the November attack.

– The movements have continued during the trial, with the hacker transferring approximately 15,000 ETH (worth around $24 million) to three new wallet addresses.

– Brooks suggests that the hacker might be feeling an increased urgency to hide the assets due to the FTX trial’s public attention.

– FTX declared bankruptcy on November 11 after employees noticed massive fund withdrawals from the exchange’s wallets.

– A report from Wired provides insight into how the attack unfolded.

– FTX employees transferred a large amount of the remaining funds to a privately owned Ledger cold wallet, preventing the hacker from taking a full $1 billion.

– The hacker has changed its method for hiding funds, using a more sophisticated method that prolongs the tracing process.

– The investigation into the FTX hack is ongoing, and no individuals or groups have been identified as responsible.

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