Hackers have recently moved approximately $38 million in cryptocurrencies from the troubled cryptocurrency exchange FTX, which has been under bankruptcy protection since November last year. According to cryptocurrency detective Lookonchain, the perpetrator behind the FTX hack transferred 7,500 ETH (worth $12.62 million) in the past 24 hours, equivalent to approximately $63.75 million in the current exchange rate. The total amount of funds moved so far is 22,500 ETH (worth $38 million or $200 million) over the past two days, including $4 million worth of Ether exchanged for Bitcoin through privacy platforms Thorchain and Railgun on Saturday. Lookonchain reports that there are still 163,235 ETH (worth $275 million or $1.4 billion) remaining in various wallets linked to the hack.
This comes in the wake of a previous attack, wherein FTX reported losses of $415 million due to hacking incidents. The company lost $323 million in cryptocurrencies from FTX International and $90 million from FTX.US. This incident occurred shortly after the exchange’s founder and former CEO, Sam Bankman-Fried (SBF), filed for bankruptcy protection under Chapter 11 and left the exchange. The attack prompted an ongoing investigation by the US Department of Justice to identify the hacker or entity responsible. However, the hacker’s identity remains unknown. Speculations have arisen suggesting insider involvement by a current or former employee. The recent movement of funds coincides with SBF’s upcoming trial on charges of fraud and money laundering, scheduled to begin next Tuesday, 3rd.