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Analysis

FTX Hacker Update: $99M ETH Moved, $207M Still At Large

October 5, 2023 - Around 2 mins mins to read

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.

FTX Hacker Update: $99M ETH Moved, $207M Still At Large
Address: 0x9b10ca213be20b8bc2a398839edd1f6406dc9b47

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.

FTX Hacker Update: $99M ETH Moved, $207M Still At Large
Address: 0xe1e347d5c26a5c9657d817576d25083a2380b60d

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.
FTX Hacker Update: $99M ETH Moved, $207M Still At Large
Address: 0xcf9c84f67935fb83077beb0611c9c6e7947d4963

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.

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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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.