News - FTX hacker activates stolen crypto

By Mike Hesp

FTX hacker activates stolen crypto

Bitcoin (BTC)
Ethereum (ETH)
FTX
Wallets and Whales

After nearly a year of silence and just days before the trial of Sam Bankman-Fried, a wallet of the unknown FTX operator is active again.

A wallet linked to the FTX hack has moved about 10,000 Ether since Sept. 30. This is revealed in a tweet van de on-chain analisten "Spot On Chain".

The wallet sent a large portion of the coins, equivalent to US$13 million, to THORchain and the privacy protocol Railgun. Another 2,500 ETH were exchanged for BTC.

Since the $400 million hack of FTX last year, things have been quiet around related wallets. The identity of the attacker remains unclear to date, but it is likely an insider.

The timing of the recent activity is striking. In a few days, the trial against FTX founder Sam Bankman-Fried. He faces 115 years in prison for allegedly defrauding his clients.

Meanwhile, the U.S. Securities and Exchange Commission has sued Prager Metis, the auditors of the collapsed crypto exchange. According to a statement from the SEC violated Prager Metis' duty of independence in several instances.

On the one hand, the accounting firm was commissioned to do the bookkeeping; on the other hand, it was also commissioned to audit FTX's books, creating a conflict of interest. The firm may have participated in the commingling of FTX's clients' funds.

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