FTX Heist: Hacker Shifts $51M in Ethereum as Former CEO Preps for Trial 

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After the FTX hacker transferred 5,000 ethereum (ETH) valued at $8 million in purloined assets, the cybercriminal shifted an additional 25,000 ether, totaling $43.15 million. Yet, even after relocating tens of millions of dollars in ethereum, the FTX wallet drainer still holds a whopping 155,749 ETH, currently valued at slightly above $268 million.

FTX Hacker Moves 30,000 Ether

In the past three days, the individual responsible for the FTX theft has shifted a total of 30,000 ETH, worth approximately $51.15 million based on current ETH values. Following two initial transfers of 2,500 ETH each, subsequent movements were 1,250 ETH, 2,500 ETH, 1,500 ETH, 4,750 ETH and two separate transfers of 7,500 ETH each.

The hacker’s holdings also include 155,749 ETH valued at $268 million, 3.97 million tether (USDT), 1.68 million DAI and 1.57 BTC, along with a variety of other crypto assets and ERC20 tokens. This news emerges as former FTX CEO Sam Bankman-Fried prepares for his October 3 trial, marking the start of jury selection. Some speculate the FTX wallet hack was an inside job, given the timing of the fund transfers.

In a conversation with reporter Tiffany Fong, Bankman-Fried speculated the perpetrator might be a former employee. “I’ve narrowed it down to like eight people. I don’t know which one it was,” he shared with Fong. The breach was first detected the day FTX declared bankruptcy. Former FTX US General Counsel Ryne Miller noted the team was examining irregularities in FTX account balances. Concurrently, Nansen’s Martin Lee observed significant withdrawals from FTX accounts.

What do you think about the FTX hacker moving $51 million in ether over the past three days? Share your thoughts and opinions about this subject in the comments section below.