$63,200,000 in Ehereum Transferred from FTX Exploiter Wallets Ahead of SBF Trial

As Sam Bankman-Fried’s fraud trial for the collapse of crypto exchange FTX kicks off on Tuesday, October 3rd, suspicious movements of funds linked to the FTX exploiter addresses have been observed.

Over the past three days, a total of 37,500 ETH worth $63.2 million has been transferred out from three known FTX exploiter wallets, as reported by Spot on Chain on X (Twitter).

The bulk of this, 35,000 ETH worth $59 million, was sent to the Thorchain router and Railgun contract, likely for laundering purposes. Another 2,500 ETH worth $4.19 million was swapped to 153.4 tBTC at an average price of $27,281.

Despite these transfers, the FTX exploiter still holds a sizable balance of 148,246 ETH worth $247 million across 13 addresses. The timing of these fund shuffles, occurring right before SBF’s fraud trial, suggests they may be connected to the proceedings in an effort to obfuscate holdings and launder funds. However, this connection is speculative at this stage.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.