Hackers with FTX exchange exchange exchange receive $38 million

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Hackers with FTX exchange exchange exchange receive $38 million

A wallet associated with the hack of the FTX exchange moved about $38 million in Ethereum since it became active last weekend, and Sam Bankman-Fried's trial is expected to begin next week.

On-chain data shows that the attacker came to live on Sept. 30 when it first transferred 6250 ETH worth $10.46 million in three transactions through privacy tools like RailGun and THORChain.

The attacker continued the transaction trend on Oct. 1, moving about 12250 ETH in two transactions via THORChain.

The most prominent blockchain analytics firm, SpotOnChain, corroborated all of the fund movement. The firm notes that around 7,749 ETH were transferred through privacy tools such as THORChain and Railgun, which is valued at around $13 million. The attacker also exchanged 2,500 ETH, worth about $4.19 million, for 153.4 tBTC, at an average price of $27,281 per token.

In seven transactions over the weekend, the attacker transferred 22,500 ETH worth $38 million. The exchanges marked the first fund transaction from the address since the hacking incident last year.

The day after FTX declared bankruptcy, FTX was exploited for around $400 million a day. The incident had triggered speculations that the hack was an inside job, with the attacker's identity still unexplained almost a year later.

Despite this litanies of transactions, the FTX exploiter wallet still retains assets worth $287 million, according to the Arkham Intelligence dashboard. The attacker has assets worth more than 163,249 pounds of ETH and 3.9 million dollars of U.S. currency, among other assets.

Crypto community members are worried that the FTX attack transactions could prevent an upward movement of ETH's price as it would increase the selling pressure in the market. Over the past few days, the assets have experienced significant growth, attracting acquisitions from whales.

CryptoSlate's data shows that ETH's price rose 2.5% to $1,722.31 as of press time.