FTX Hacker Continues To Withdraw Crypto Assets From FTX Wallets

Multiple FTX and FTX US wallets continue to send crypto assets to the FTX Drainer address 0x59A…32b even three days after the hack. The FTX Drainer address now holds almost $62 million in crypto assets. The hackers transferred over $600 million in crypto assets from wallets triggered by an auto-update that leaked keys and execute functions to empty several wallets.

Drainer Address Continues To Receive Crypto Assets From FTX

Blockchain security firm CertiK in a tweet on November 15 revealed that multiple FTX addresses in both FTX and FTX US still sending crypto tokens to the FTX Drainer address 0x59A…32b. FTX Drainer Address holds approximately $62 million in crypto assets.

Moreover, the FTX Drainer Address has received and swapped almost 3.5 billion since November 12. The hackers sent 2.8 billion of various profanity and meme tokens such as FTX Sucks, F*ck FTX, CRO Next, and others to “meme” and famous addresses.

Over $600 million in abnormal transfers were reported by on-chain experts, with some withdrawals being swapped from Tether to DAI and altcoins swapped to Ethereum. FTX Community Chat admin confirmed in the Telegram group saying that FTX has been hacked and FTX apps are malware.

FTX US general counsel Ryne Miller also confirmed removing trading and withdrawal functionality due to unauthorized access to certain assets. He also said FTX is moving crypto assets to a new cold wallet custodian to prevent them from the hack.

However, the hackers still having access to FTX and FTX US wallets remains a concern for users, as several reported $0 balances in their wallets.

FTT Token Price Continues To Tumble

FTX Token (FTT) price has tumbled as Sam Bankman-Fried filed for Chapter 11 Bankruptcy. At the time of writing, the FTT is down over 1% in the last 24 hours, the price is currently trading at $1.62.

Meanwhile, SBF is posting single-letter series of tweets with no meaning. “What Happened” is the word he had completed. In a recent tweet, he posted:

“NOT LEGAL ADVICE. NOT FINANCIAL ADVICE. THIS IS ALL AS I REMEMBER IT, BUT MY MEMORY MIGHT BE FAULTY IN PARTS.]”

Also Read: FTX’s Sam Bankman-Fried Fails On His Cryptic Tweets

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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