Scam Alert

FTX Accounts Drainer Continue Converting Ethereum To renBTC

Exploiting from the collapsed exchange FTX, which has been labeled “FTX Accounts Drainer” by the account, has been steadily transferring tokens to Ethereum over the past week. However, this time it’s different.

FTX Accounts Drainer Continue Converting Ethereum To renBTC 3

According to PeckShieldAlert, FTX Accounts Drainer has swapped Ether to renBTC. The amount of Ether recorded is about 5,000 for 347 renBTC. The drainer then carried out a second trade for 344.53 renBTC for almost the same amount.

The FTX Accounts Drainer afterward started converting ether to renBTC via the decentralized exchange aggregator 1inch, according to the on-chain examination of the new wallet. In the first of these exchanges, 4,000 Ether was first turned into wrapped Bitcoin (wBTC), another currency that serves as a representation of Bitcoin, and then into renBTC.

Blockchain data reveals that the exploiter carried on converting Ether to renBTC across a number of transactions.

FTX Accounts Drainer Continue Converting Ethereum To renBTC 4

It seems that this hacker is still trying to convert the mined money from the FTX exchange into cash. However, his method is quite complicated, and the on-chain data still records recent transactions at 3:48 a.m. UTC on November 21.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.