Fun

News Feed - 2023-10-12 11:10:08

Helen Partz9 hours agoFTX hacker moves $120M amid Sam Bankman-Fried trial: ReportBlockchain analytics firm Elliptic didn’t rule out the possibility of the $477 million hack being an FTX inside job.3240 Total views14 Total sharesListen to article 0:00NewsJoin us on social networksAnonymous hackers of the now-defunct exchange FTX have been moving large amounts of assets stolen from the platform, with new transactions occurring just as the trial of FTX founder Sam Bankman-Fried gets underway.


As much as 72,500 Ether (ETH) of stolen assets from FTX has awakened for the first time since the exchange was hacked in November 2022, the blockchain analytics firm Elliptic reported on Oct. 12.


According to Elliptic, the thief has converted $120 million worth of ETH into Bitcoin (BTC) through the multichain decentralized exchange (DEX) THORSwap since Sept. 30, 2023.


The first converting transactions were made just a few days before Bankman-Fried’s trial started on Oct. 3. At the time of the hack, the converted amount was worth $87 million, or 18% of the total stolen funds of $477 million.


The FTX hacker applied a similar laundering technique to the one deployed in November 2022, when the hacker transferred 65,000 ETH ($100 million) to BTC using the cross-chain bridge RenBridge.


“The 180,000 ETH that was not converted to Bitcoin through RenBridge remained dormant until the early hours of Sep. 30, 2023 — by which time it was worth $300 million,” Elliptic wrote in the new report.Daily number of transactions involving FTX stolen assets. Source: Elliptic


Elliptic mentioned that the FTX hacker lost $94 million in the days following the hack as the attacker rushed to launder the funds through decentralized exchanges, cross-chain bridges and mixers.


Related:FTX hacker could be using SBF trial as a smokescreen: CertiK


Almost a year after the hack, the identity of the FTX thief is still unknown, Elliptic noted. The blockchain analytics firm suggested three possibilities for who could be behind the FTX theft: an FTX inside job, North Korea’s Lazarus Group and Russia-linked criminal groups.


“Some FTX employees would have had access to the business’s crypto assets in order to move them for operational reasons. In the chaos surrounding the company’s bankruptcy and collapse, it may have been possible for an internal actor to take these assets,” the Elliptic’s report reads.


Magazine:Blockchain detectives — Mt. Gox collapse saw birth of Chainalysis# Bitcoin# Hackers# Hacks# Sam Bankman-Fried# FTX# RegulationAdd reactionAdd reactionRead moreHow to actually spend your Bitcoin, ExplainedMichael Lewis" new book puts a positive spin on Sam Bankman-FriedMeet the guerilla artist who staged a crypto ‘rug pull’ in front of the SEC

News Feed

BlackRock’s spot Ether ETF amasses nearly $900M since launch
Brayden Lindrea4 hours agoBlackRock’s spot Ether ETF amasses nearly $900M since launchBlackRock’s iShares Ethereum Trust has almost hit $900 million in total inflows after just 11 trading days.1705 Total views22 Tota
Cardano Market Structure Says Crash Is Coming, But $0.9 Is Still In The Cards
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Fear & Greed Index hits lowest level since January 2023
Vince Quill6 hours agoBitcoin Fear & Greed Index hits lowest level since January 2023Lower levels on the Crypto Fear & Greed Index indicate negative investor sentiment, while higher levels indicate a fear of miss
Grayscale launches new decentralized AI fund
Ana Paula Pereira7 hours agoGrayscale launches new decentralized AI fundThe fund is available only for accredited investors. Its basket includes native tokens from Bittensor, Filecoin, Livepeer, Near and Render.3280 Tota
Spot Ethereum ETFs record longest outflow streak amid drying investments
Arijit Sarkar30 minutes agoSpot Ethereum ETFs record longest outflow streak amid drying investmentsEthereum ETFs in the US face significant outflows, contrasting Bitcoin ETFs, which continue to attract investments.210 To
Ezra Reguerra22 minutes agoCelsius files lawsuit to recover $150M from staking platform StakeHoundCelsius aims to claw back 40 million MATIC, 66,000 DOT, 25,000 staked native ETH and 35,000 ETH from liquid staking platfo
US Lawmakers Introduce Bill Allowing Crypto Investments in 401(k) Retirement Plans
US Lawmakers Introduce Bill Allowing Crypto Investments in 401(k) Retirement Plans Several U.S. lawmakers have introduced the Retirement Savings Modernization Act to provide 401(k)
US Treasury sanctions crypto mixer Sinbad, alleging North Korea ties
Turner Wright7 hours agoUS Treasury sanctions crypto mixer Sinbad, alleging North Korea tiesThe government department has previously imposed sanctions on crypto mixers Blender and Tornado Cash despite many in the space p
Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum
Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed s
Bitcoin falls into demand zone — Will SOL, XRP, KAS and AAVE follow?
Rakesh Upadhyay5 hours agoBitcoin falls into demand zone — Will SOL, XRP, KAS and AAVE follow?Bitcoin may find buyers close to $56,000, benefitting select altcoins such as SOL, XRP, KAS, and AAVE.3620 Total views8 Tota
Bit Mining Secures $9.3 Million Registered Direct Offering From Institutional Investors
Bit Mining Secures $9.3 Million Registered Direct Offering From Institutional Investors Bit Mining Limited has announced that it has entered a $9.3 million registered direct offeri
Kava Swap Lists on AscendEX
Kava Swap Lists on AscendEX press release PRESS RELEASE. AscendEX, a global digital asset trading platform with a comprehensive product suite , is thrilled to announce the listing o