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HomeFinance NewsFTX hacker transferred $17M worth of ETH in 24 hours

FTX hacker transferred $17M worth of ETH in 24 hours

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An address associated with the FTX exploit, identified as 0x3e9, has recently made transfers totaling over 10,000 ETH (worth approximately $17 million) across five different addresses. These addresses had been inactive for several months before the recent activity. As part of these transfers, a significant amount of 7,749 ETH (approximately $13 million) was sent to the THORChain router and Railgun contract. Additionally, the exploiter swapped 2,500 ETH (worth around $4.19 million) for 153.4 tBTC at an average price of $27,281 per token.

This incident occurred just as the market eagerly awaited the launch of Ethereum futures ETFs on October 2. It also coincides with the upcoming trial of FTX co-founder Sam Bankman-Fried, set to start in October. The trial, which will last six weeks, involves seven charges related to fraudulent activities. Bankman-Fried has pleaded not guilty to all charges and has been denied release from custody by Judge Lewis Kaplan due to concerns about him potentially fleeing.

In conclusion, the FTX exploit address 0x3e9 has conducted significant transfers of funds recently, including sending a large amount of ETH to the THORChain router and Railgun contract, as well as swapping ETH for tBTC. This incident has occurred amidst the anticipation of Ethereum futures ETFs launching and the upcoming trial of FTX co-founder Sam Bankman-Fried. Bankman-Fried has pleaded not guilty to charges and remains in custody due to concerns about him fleeing. These developments have sparked interest and scrutiny in the crypto community.

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