Report: More than $477 million has been withdrawn from the FTX trading platform’s portfolio
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Answer Report: More than $477 million has been withdrawn from the FTX trading platform’s portfolio
Blockchain transaction analysis firm Elliptic has published a report detailing the theft of an estimated $477 million in selected cryptocurrencies.
It told Elliptic that more than $663 million has moved from the FTX platform, as FTX employees noticed unauthorized transactions.
After the hacker seized $477 million, the remainder is believed to have been moved to secure storage by FTX itself, as detailed in the Elliptic report.
Elliptic also told that nearly $220 million has been exchanged for Ethereum or the stablecoin DAI via decentralized exchange (dex) platforms.
The report also states:
Over $220 million in cryptocurrencies have been exchanged for ETH or DAI through decentralized trading platforms, a common tactic used by thieves seeking to avoid the stolen assets being frozen.
Read:Crypto Funds Record Strongest Institutional Monthly Flows in 2022
The Elliptic report also shows that the remaining funds were sent to the Ethereum address 0x97f.
Still in the title to this day, the funds mostly consist of ERC20 tokens with an estimated value of $194.72 million.
It appears that the person or entity known as the “FTX Account Dryer” now owns more than $285 million worth of Ethereum.
Along with the person or entity that filled the wallet with more than 228,000 Ethereum, a number of dust transactions were sent to the address.
The FTX hacked account ranks 35th in the list of largest Ethereum wallets, in terms of the number of Ethereum held.
Read:Investor: These are the lessons learned from the loss of half a million riyals in the cryptocurrency market
The hacker’s Ethereum account has seen a total of 593 transactions since it was first created.
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