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FTX Accounts Drainer Converts Millions in Stolen Funds to Ether

Tris Bell

Summary: The accounts drainer who stole $600 million from crypto exchange FTX last week moved millions of dollars of stolen funds early European hours Tuesday. The funds were stolen from customers’ crypto wallets late Friday, after which FTX sent out a notice saying it had been hacked and warned customers not to install any new upgrades ...

The accounts drainer who stole $600 million from crypto exchange FTX last week moved millions of dollars of stolen funds early European hours Tuesday.

The funds were stolen from customers’ crypto wallets late Friday, after which FTX sent out a notice saying it had been hacked and warned customers not to install any new upgrades and to delete all FTX apps.

According to blockchain data, more than 21,555 ether, or $27 million, were transferred from multiple addresses linked to the accounts drainer to a single address. The ether were later converted to stablecoin DAI on the swapping service CowSwap.

The accounts drainer accumulated more than $48 million of DAI and converted them into 37,000 ether, making it the 35th largest owner of the cryptocurrency according to data by security firm PeckShield.

Author: Tris Bell

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Link: FTX Accounts Drainer Converts Millions in Stolen Funds to Ether   [Copy]
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