– 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.