FTX exploiter’s wallet address transferred approximately $36.8 million worth of Ether in the wake of Sam Bankman-Fried’s (SBF) court trials, bringing the current balance in their portfolio down to $196.014 million after a series of transfers.
The accounts of FTX and FTX.US were depleted of $600 million on November 11, 2022, hours after the cryptocurrency exchange filed for Chapter 11 bankruptcy. FTX’s general counsel at the time, Ryne Miller, informed traders of the malware-based hack:
“FTX has been hacked. Chat is open. Please don’t go to the FTX site, as it might download Trojans. Note that some funds were retrieved.”
Spot On Chain data verifies that after nearly ten months of silence, the FTX exploiter began siphoning out the stolen funds, transferring 10,250 ETH worth $17.1 million to four addresses between September 30 and October 1.
The initial balance of the exploiter was 175,496 ETH ($294 million). As shown below, the current balance of their portfolio has decreased to $196,014 million.
Five of the fifteen wallet addresses associated with the FTX exploiter have transmitted 67,500 ETH since September 30.
The THORchain conduit transferred 64,948 ETH ($108 million), and the Railgun contract received 52 ETH ($84,000). The remaining 2,500 ETH (approximately $4.19 million) were exchanged for Bitcoin (tBTC).
The trial of SBF concerning the demise of FTX commenced on October 3. The business owner pled not guilty to all seven fraud and money laundering counts.
The Department of Justice and SBF’s defense team addressed the jury on the second day of the trial. While the DOJ emphasizes SBF’s alleged role in misleading investors on the platform, the defense argued that Bankman-Fried was a youthful entrepreneur who made business decisions that “didn’t work out.”
