FTX Hacker Moved Another $124M Worth of $ETH to Bitcoin Network

In November 2022, just several hours after FTX filed for bankruptcy, an unknown party managed to drain various wallets of the exchange for as much as $600 million. Starting last week, the hacker has managed to pass over 75,000 $ETH using various platforms.

This sudden movement of funds coincided with the beginning of SBF's criminal trial in a federal court in New York this week.

The hacker first used THORSwap to move $ETH to Bitcoin network from last week. On Friday, THORSwap decided to shift its protocol into "maintenance" mode to curtail any further potential illicit activity. THORSwap will remain in this mode until a more robust solution can be implemented to ensure the platform does not invovled in these illicit activity.

Shortly after the THORSwap suspended its service, the FTX exploiter started swapping $ETH for tBTC and cross-chained to the Bitcoin network using Threshold Network. Threshold network has released a patch update to node operators and said in Twitter that remaining pending FTX exploiter transactions will not be processed.

The FTX exploiter currently holds 109,485 $ETH according to the Lookonchain data.

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