After the FTX collapse, now the FTX hack is on the agenda. Kraken’s CSO claims to have identified the attacker in the $600 million FTX hack. Allegedly, these person(s) are insiders.
How easy was Kraken to describe
cryptocoin.comAs you follow, the stock market was hacked after the dramatic collapse of FTX. In this attack, hackers/hackers stole 600 million dollars of tokens. Nick Percoco, CSO of crypto exchange Kraken, revealed that his team has identified the FTX hacker. In response to Mario Nawfal, Kraken CSO Nick Percoco shared that the Kraken team now knows the name of the user who hacked FTX.
Kraken’s KYC (Know Your Customer) mechanism played an important role in identifying the attacker. The hacker used Kraken to drain the stolen funds after the attack. This mistake he made was enough for the Kraken team to identify the hacker. Mario Nawfal, founder and CEO of IBCgroup.io, wrote on Twitter that the hacker was most likely an incompetent ‘insider’.
We know the identity of the user.
The community worked together to identify the attacker
Satoshi Stacker is a famous YouTuber and advocate of cryptocurrency and Non Fungible Token (NFT). Stacker commented on the issue, noting that the hacker of FTX financed the TRX wallet from Kraken. In this context, Stacker shared the following from his Twitter account:
FTX Hacker funded the TRX wallet from Kraken. It’s the same wallet holding the stolen funds. This means that Kraken must have sufficient information to follow this individual(s) with the law. If it’s Sam, he basically doesn’t care.
Dyma Budorin, CEO and co-founder of Hacken.io, praised just.money creator Tobias Silver for his thorough analysis of FTX Tron accounts.
There’s an insider behind the FTX Official ‘rug pull’ and ‘exit scam’. Great thread that proved to me that FTX hacking is an inside job: It’s too slow; stupid mistakes, including kraken account, hacker would act before.
Due to the hacker’s incompetence, Budorin concluded that an insider (FTX) was behind the scam. Kraken and law enforcement will likely collaborate to track down and capture the now identified person.
From FTX debacle to hack debacle
The collapsing cryptocurrency exchange announced its decision to file for voluntary chapter 11 bankruptcy. Hours after this statement, news of a $ 600 million hack came. Sam Bankman-Fried also resigned from his position as CEO of FTX before the attack. According to the dossier, approximately 130 additional exchange-linked entities will also be parties to the proceedings.
According to reports, nearly $1 billion in customer deposits was lost from bankrupt cryptocurrency exchange FTX. Also, Sam Bankman-Fried allegedly used a ‘backdoor’ in FTX’s bookkeeping system to specifically siphon money.
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