FTX Account Drainer Used ChipMixer To Launder The Stolen Funds

According to on-chain detective ZachXBT, the FTX account drainer used ChipMixer to hide his money and has already laundered about 360 Bitcoin (BTC).

The FTX account drainer has been active since November 12. Since then, the attacker has continuously moved the stolen tokens to different addresses.

Besides moving tokens, the wallet address is confirmed as “FTX account drainer” that swaps tokens to ETH and Bitcoin. This has slightly affected the price of ETH in recent times.

ChipMixer is a long-standing Bitcoin mixing service that is designed to obfuscate the source of a customer’s BTC. It does this through proprietary methods that are not exactly known, user can rest assured that the Bitcoin received at the end of the process cannot be traced back to the Bitcoin they sent to it.

ChipMixer has been in operation since May 2017, and in this time, it has racked up very few legitimate complaints against it. To sum it up, ChipMixer is generally regarded as the most honest Bitcoin mixer around.

The U.S. government uses ChipMixer, according to crypto influencer FatManTerra, and it is “a United States government honeypot.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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