FTX exploiter moved over $17M in ETH in the last 24 hours

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FTX exploiter moved over $17M in ETH in the last 24 hours
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According to recent information from Spot On Chain, an address linked to the FTX exploit identified as 0x3e9, has conducted transfers exceeding 10,000 Ether (ETH), worth roughly $17 million, across five different addresses since Sept. 30. The addresses had remained inactive for several months before the recent activity.

A significant portion of the 7,749 ETH, worth roughly $13 million, was directed toward the THORChain router and Railgun contract. Furthermore, the exploiter engaged in a swap involving 2,500 ETH, worth around $4.19 million, converting it into 153.4 tBTC at an average price of $27,281 per token.

At the time of the initial hack on Saturday, Sept. 30, approximate losses amounted to nearly 50,000 ETH.

The hack comes as the market anticipates the launch of Ethereum futures ETFs on Monday, Oct. 2.

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The trial of FTX co-founder Sam Bankman-Fried is also set to begin in October.

The trial is expected to last six weeks, beginning with jury selection on Oct. 3, followed by initial court proceedings on Oct. 4. Bankman-Fried faces seven charges connected to fraudulent activities, comprising two substantive charges and five conspiracy charges.

Related: Valkyrie backtracks on Ether futures contract purchases until ETF launch

The FTX founder has pleaded not guilty to all allegations. Despite numerous attempts to secure temporary release, Bankman-Fried remains in custody. Judge Lewis Kaplan denied his most recent request for release, citing concerns about the possibility of him fleeing.

Magazine: Can you trust crypto exchanges after the collapse of FTX?





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