Cryptocurrency analyst ZachXBT has tracked the bitcoins (BTC) stolen from the FTX exchange after its crash.

He told “ZachXBT” that bitcoins (BTC) stolen from FTX are still on the move.

In a recent tweet, analyst ZachXBT mentioned that the first batch of 360 BTC from the FTX hack was moved to be washed on ChipMixer, the latter being a Bitcoin mixer.

These services are used to obfuscate cryptocurrency transactions.

Hackers usually take advantage of them to launder stolen money and make it impossible for anti-money laundering services to track it down.

A significant portion of the stolen bitcoins (BTC) was transferred through the REN protocol.

Read:The difficulty of hashing in the Bitcoin network is reaching an all-time high

In a report on Chainabuse, ZachXBT shared details of dozens of addresses on the Bitcoin, Ethereum, Solana, and Polygon Network (MATIC) blockchains used by the FTX hack.

The hackers drained the equivalent of $477 million from FTX and its US arm shortly after declaring bankruptcy.

CertiK cybersecurity analysts note that in the transactional pattern, FTX tokens of Ethereum (ETH) are distributed between different addresses.

Another prominent analyst, FatManTerra, shared his theory about the ChipMixer service and claimed that the platform may be run by US government agencies.

The analyst highlighted that despite the crackdown on Tornado Cash, ChipMixer is still operating normally.

Running such a centralized service is illegal.

At the same time, their owners, whoever they are, have a huge amount of information about transactions.

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