Crypto wallet addresses linked to the FTX exploit moved around $36.8 million worth of ether in the past 24 hours amid the court trial of defunct cryptocurrency exchange former CEO Sam Bankman-Fried (SBF) (ETH).
On November 11, 2022, $600 million was siphoned off from accounts associated with FTX and FTX US, hours after the cryptocurrency exchange filed for Chapter 11 bankruptcy protection. At the time, FTX General Counsel Ryne Miller informed traders of the hacking attack caused by malware:
“FTX has been hacked. Chat is open. Please do not visit the FTX website as it may download Trojans. Please note that some funds have been recovered.”
After nearly 10 months of silence, the FTX exploiter began siphoning off stolen funds, first moving 10,250 ETH worth $17.1 million through four addresses between September 30 and October 1 data From the spot chain.
The attacker initially held 175,496 ETH ($294 million). However, their portfolio balance is currently down to $196.014 million, as shown below.
Since September 30, a total of 67,500 ETH has been transferred from 5 of the 15 wallet addresses associated with the FTX exploiter.
Of these, 64,948 ETH (valued at $108 million) were transferred through the Thorchain router, and 52 ETH (valued at $84,000) were transferred to the Railgun contract. The remaining 2,500 ETH ($4.19 million) was exchanged for Bitcoin (tBTC).
related: CertiK: September becomes the worst month for cryptocurrency exploits in 2023
SBF’s trial in connection with FTX’s collapse began on October 3. The entrepreneur pleaded not guilty to all seven charges of fraud and money laundering.
We decided to explain the preparations @SBF_FTXof trial. This is Bankman-Fried’s life behind bars. From mirror monologues to peanut butter banquets, fall is real. pic.twitter.com/v73IA6d5l2
— Cointelegraph (@Cointelegraph) October 3, 2023
On the second day of the trial, the Department of Justice (DOJ) and the SBF defense team provided statements before the jury. While the Justice Department continues to focus its arguments on SBF’s alleged misleading of investors on the platform, the defense argued that Bankman-Fried was a young entrepreneur who made “unsuccessful” business decision making.
Read more for the latest developments in the SBF-FTX court trial.
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