On-chain researcher ZackXBT revealed that it was stolen this month by the mysterious FTX hacker and later scrambled on mixing services. bitcoin traced some of his funds.
FTX Hacker Started Sending Stolen Assets to OKX Exchange After Converting them to Bitcoin
The analyst found that $4.1 million worth of Bitcoin (255 BTC) went to OKX, a cryptocurrency exchange.
As announced on Twitter, the hacker first deposited the stolen funds into CoinMixer.
The first CoinMixer investment was made on November 20, after the attacker used the Ren Bridge to move assets from Ethereum’s blockchain to Bitcoin’s. As of Tuesday, $ 7 million ETH remained at the address.
After reviewing the deposits, ZackXBT said that the hacker most likely transferred these funds to OKX after withdrawing funds from this mixing service.
1/ Myself and @bax1337 spent this past weekend looking into the FTX attacker’s deposits to ChipMixer.
It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX after withdrawing from CM
So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX pic.twitter.com/C46JZWtktn
— ZachXBT (@zachxbt) November 29, 2022
“We have calculated that the amount sent to OKX so far is at least $4.1 million (255 BTC),” ZackXBT said.
Cryptocurrency journalist Wu Blockchain said on Twitter that OKX exchange officials had frozen the hacker account in question.
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The FTX hacker had withdrawn over $400 million from the exchange just hours after the exchange declared bankruptcy on November 11. Since then, it has initiated numerous swaps and bridge transfers that have obscured the traces of the funds.
The hacker address was among the largest Ethereum whales in the world after his robbery.
Bahamian regulators claimed earlier this month that they were behind the hack and ensured that the funds were transferred to their own wallets to “keep it safe”. However, some suspect it may be an inside job.
*Not investment advice.