Home Finance News FTX hacker transfers over $17M Ethereum in past 24 hours

FTX hacker transfers over $17M Ethereum in past 24 hours

FTX hacker transfers over $17M Ethereum in past 24 hours

A recent report from Spot On Chain reveals that the FTX exploit, identified as address 0x3e9, has conducted transfers of over 10,000 ETH, equivalent to around $17 million, to five different addresses since September 30. These addresses had been inactive for several months before the recent activity. Notably, a significant portion of the transferred ETH, approximately 7,749 ETH worth $13 million, was directed towards the THORChain router and Railgun contract. Additionally, the exploiter exchanged 2,500 ETH, valued at about $4.19 million, for 153.4 tBTC at an average price of $27,281 per token.

This hack comes at a time when the market is eagerly anticipating the launch of Ethereum futures ETFs on October 2. The trial of Sam Bankman-Fried, co-founder of FTX, is also set to begin in October. The trial, expected to last six weeks, will begin with jury selection on October 3 and initial court proceedings on October 4. Bankman-Fried is facing seven charges related to fraudulent activities, including two substantive charges and five conspiracy charges. Despite several attempts to secure temporary release, Bankman-Fried remains in custody as Judge Lewis Kaplan denied his most recent request for release, citing concerns of him fleeing.

Overall, this news highlights the ongoing exploits in the cryptocurrency space, with the FTX exploit being another high-profile incident. It also underscores the heightened anticipation around the launch of Ethereum futures ETFs and the pending trial of FTX co-founder Sam Bankman-Fried. These events demonstrate the challenges and risks associated with the crypto industry and the need for robust security measures and regulatory oversight.

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