$99M ETH Moved, $207M Still At Large

Key Points:

• FTX hacker update: continue to transfer $99M ETH worth of ETH.
• FTX hacker currently holds $207M worth of ETH in 9 addresses.

FTX hacker update: 60,000 ETH ($99M) has been moved through 4 addresses, with 56,000 ETH exchanged for BTC. 125,735 ETH ($207M) remains across 9 addresses

FTX hackers, who went dormant for almost ten months, have sprung back into action. On November 21, 2022, they scattered a staggering 185,735 ETH (equivalent to $308 million) across 13 addresses. Now, they are on the move again, transferring and liquidating their ill-gotten gains.

As of October 3, 2023, the hackers have moved 45,000 ETH (approximately $74.7 million) from three addresses. Recent FTX hacker update indicates that the hacker has continued these transfers, with an additional 15,000 ETH (approximately $24.75 million) moved and exchanged for BTC via the THORChain cross-chain platform on October 4th.

Analyzing the FTX Hacker’s Recent Activity

In total, 60,000 ETH (about $99 million) has been moved out through four addresses since September 30, 2023, with a distribution breakdown as follows:

• Of the 60,000 ETH, 56,000 ETH have been exchanged for BTC through THORChain cross-chain.
• Another 2,500 ETH has been converted into 153.4 tBTC and bridged to the Bitcoin network through the Threshold Network.
• Lastly, 1,500 ETH was transferred via the privacy network RAILGUN.

However, the FTX hacker still holds 125,735 ETH (approximately $207 million) spread across nine addresses on the Ethereum network. Given recent trends, it appears that more transfers may be on the horizon.

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