Multiple FTX wallets continue to send crypto assets to “FTX Drainer” address 0x59A…32b even three days after the hack. The address of the FTX hacker currently holds about $62 million in crypto assets. The hacker or hackers have transferred over $600 million in crypto assets so far. Here are the details…
FTX hacker still in action
Blockchain security firm CertiK revealed in a tweet on November 15 that multiple addresses in both the exchange and the US arm of FTX are still sending crypto tokens to FTX Drainer address 0x59A…32b. FTX Drainer Address has approximately $62 million in crypto assets. Also, the FTX Drainer address has received and traded almost 3.5 billion since Nov. Over $600M abnormal transfers were reported by Onchain experts, with some withdrawals being exchanged from Tether to DAI and altcoins to Ethereum. According to CertiK, the wallets that the hacker trades in are as follows:
Ryne Miller, general counsel of FTX/US, also confirmed that trading and withdrawal functions have been removed due to unauthorized access to certain assets. He also said that FTX is moving its crypto assets to a new cold wallet custodian to protect it from hacking. However, hackers who still have access to the exchange and FTX US wallets remain a concern for users as they report a $0 balance in their wallets.
What cryptocurrencies does the hacker have?
According to crypto intelligence platform Arkham Intelligence and a Blockchain expert, the mysterious looter of crypto exchange FTX has $339 million in cryptocurrencies that they leaked from the exchange late Friday. Arkham revealed that wallets associated with the exploiter hold $215 million in Ethereum, $48 million in DAI, $44 million in BNB, $4 million in USDT and $3.8 million in MATIC.
The original address that tokens were sent to, 0x59, received and dumped a multitude of FTX's remaining token holdings.
The attacker appeared to be panicking, and lost a large amount of their token holdings to slippage.
— Arkham | Crypto Intelligence (@ArkhamIntel) November 14, 2022
Also, around $20 million in PAXG, a Paxos stablecoin tied to the gold price, was frozen when Paxos was ordered by US authorities to blacklist accounts. This prevented the owner from carrying or cashing out the tokens. As we reported on Kriptokoin.com, Sam Bankman-Fried’s bankrupt crypto exchange FTX has been subject to suspicious exits in excess of $600 million.
An address at the center of the exploit stole nearly $400 million from the exchange’s crypto wallets. The attack came after 137 other firms of FTX and Bankman-Fried’s crypto holding filed for bankruptcy protection the same day. According to Arkham’s report, the hacker acted hastily based on his behavior on the Blockchain. They used various decentralized exchanges, including UniSwap, 1inch, and CowSwap, to convert the tokens. They struggled to sell the coin, which was split into smaller amounts like MATIC, LINK, and PAXG, to avoid losses from price drift.
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