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FTX Exploiter Transfers Over $17.1M in ETH in the Past 24 Hours

FTX Exploiter Transfers Over $17.1M in ETH in the Past 24 Hours

In the realm of these transactions, a substantial chunk of 7,749 ETH, equivalent to a staggering $13 million, found its way into the Thorchain router and Railgun contract. This news comes from Spot On Chain, who revealed that the FTX exploit address, known as 0x3e9, has been on a transfer spree, moving over 10,000 ETH (worth more than $17.1 million) across five different addresses in just one day. Interestingly, these addresses had been dormant for quite some time before this sudden burst of activity.

Within these transfers, a significant portion of the ETH, specifically 7,749 ETH ($13 million), was directed towards the Thorchain router and Railgun contract. Additionally, the exploiter engaged in a swap involving 2,500 ETH ($4.19 million), converting it into 153.4 tBTC at an average rate of $27,281 per token. This address, which has recently sprung to life, has shown notable activity and is expected to continue transferring ETH, most likely to Thorchain.

This all comes in the wake of the initial hack on September 30th, which resulted in losses of nearly 50,000 ETH. It’s worth mentioning that this incident occurred shortly before SBF’s criminal trial, set for October 2023. FTX Exploiter 0x3e9 has now transferred a total of 10,250 ETH ($17.1M) through five addresses in the past 24 hours: 7,749 ETH ($13M) to the Thorchain router and Railgun contract and 2,500 ETH ($4.19M) swapped to 153.4 tBTC at an average rate of $27,281. The address has recently become active and has been… [link to tweet]

These events have had a significant impact on the price of ETH, causing it to experience downward pressure. Currently, the price hovers just above $1,650. This situation arises as the market eagerly awaits the introduction of Ethereum futures ETFs on October 2nd.

Meanwhile, FTX co-founder Sam Bankman-Fried, also known as SBF, is preparing for his upcoming trial in October. This follows his arrest in The Bahamas and subsequent extradition to the United States, marking several months since these events unfolded.

The trial is expected to span six weeks, commencing with jury selection on October 3rd, followed by initial court proceedings on October 4th. Bankman-Fried faces a total of seven charges related to fraudulent activities, including two substantive charges and five conspiracy charges.

Throughout the legal proceedings, the FTX founder has consistently maintained his innocence, pleading not guilty to all allegations. Despite multiple attempts to secure temporary release, Bankman-Fried remains in custody at the Metropolitan Detention Center. His most recent request for release was denied by Judge Lewis Kaplan, who expressed concerns about the possibility of him fleeing.

Summary:

– FTX Exploiter 0x3e9 has transferred 10,250 ETH ($17.1M) through five addresses in the past 24 hours.

– A significant portion of the ETH was directed towards the Thorchain router and Railgun contract.

– The exploiter also swapped 2,500 ETH ($4.19M) for 153.4 tBTC at an average rate of $27,281 per token.

– The ETH price has experienced downward pressure due to these events.

– Ethereum futures ETFs are set to be introduced on October 2nd.

– FTX co-founder SBF’s trial is scheduled for October, with seven charges against him.

– Bankman-Fried has pleaded not guilty and remains in custody at the Metropolitan Detention Center.

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