New developments have emerged regarding the recent hack of cryptocurrency exchange FTX. According to a Twitter post by blockchain analytics firm Scorpescan on October 8th, 2023, the exploiter behind the FTX hack has continued transferring stolen funds out of the Ethereum blockchain.
Specifically, Scorpescan reported that the hacker sent another 15,000 ETH (worth approximately $24.5 million) to decentralized exchange THORChain over the past day. In total, the exploiter has now transferred 90,000 ETH (around $147 million) off of Ethereum so far. Most of these funds have been exchanged to Bitcoin and bridged to the Bitcoin blockchain.
After all of these transfers, the FTX exploiter still holds an estimated 95,748 ETH (worth about $157 million) on Ethereum. This means the hacker has already moved out around 48.45% of the total funds stolen from FTX, which is estimated to be around 186,000 ETH or $306 million in value.
The continued movement of the hacked funds illustrates the difficulties of tracking and recovering from blockchain-related exploits. While the hacker’s identity remains unknown, analysts are closely watching the remaining Ethereum wallet associated with the hack to see if further transfers occur. The implications of the FTX attack continue to unfold for the cryptocurrency world.
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