3 days ago, November 11, 2022, FTX wallet has been reported to have seen unusual activity, with FTX Telegram channel administrators highlighting that FTX has been “hacked.” On the same day, FTX’s new CEO, John Ray, admitted that there had been an “unauthorized transaction.” A report from blockchain intelligence firm Elliptic estimates that “more than $663 million” worth of tokens have been moved and “$477 million suspected of being stolen.”
Elliptic says more than $477 million of his FTX exchange wallet has been siphoned. Reportedly stolen. Elliptic said that “more than $663 million” was moved during the event when FTX employees noticed “unauthorized transactions.” After hackers siphoned off his $477 million, “the rest is believed to have been moved into secure storage by his FTX himself,” details Elliptic’s blog post.
Elliptic also said about $220 million was exchanged for Ethereum (ETH) or stablecoin DAI via its decentralized exchange (dex) platform. “More than $220 million in tokens have been exchanged for ETH or DAI through decentralized exchanges, which are often used by thieves trying to avoid seizure of stolen assets. It’s a tactic,” Elliptic’s blog post explains. Elliptic also details that the remaining funds were transferred to the Ethereum (ETH) address “0x97f”.
These funds remain in the address to this day, with the bulk of the funds comprising an estimated $194.72 million worth of ERC20 standard tokens. When Elliptic wrote about the address on his November 12th, the company said it was worth “$186 million in over 100 different tokens” due to the low cryptocurrency exchange rate that day. I was. FTX employees noticed a strange deal, but FTX’s new CEO, John Wray, confirmed that there had been an “unauthorized deal” later in the day.
$194 million wallet includes 45.85 million FTT, 143.88 million BOBA, 52.93 million SRM, 3.2 million LEO, 5.41 million MATIC, 50.45 million CRO, 9,381 XAUT (Tether Gold), 202 million DYDX, and dozens of other stashes of ERC20 tokens. The 0x97f address has not been traded since November 12, 2022. Following Elliptic’s report, on-chain data originating from funds not associated with the 0x97f address found that funds had fallen into Ethereum in the past 24 hours after mixing stashes into stablecoins like DAI. (ETH). The original address is flagged as “FTX account drain” in block explorer etherscan.io. Other Ethereum block explorers tag Ether addresses as “FTX exploiters.”
Individuals or entities known as “FTX Accounts Drainers” hold balancesETH balances It appears to be worth $285.15 million using the current ETH exchange rate. In addition to individuals or entities that filled their wallets with 228K Ether or more, numerous dust transactions were sent to that address. Dubbed the “FTX Accounts Drainer,” the account is currently the 35th largest Ethereum wallet by ether held. The Ethereum account has had a total of 593 transactions since it was first created.
Image Credits: Shutterstock, Pixabay, Wiki Commons