On Twitter, a crypto analyst known as ZachXBT claimed that the FTX hackers used the Bitcoin mixer ChipMixer to transfer a portion of the stolen funds to the OKX exchange. According to the analyst, at least 225 BTC (worth $4.1 million USD) has been sent to OKX so far.

According to ZachXBT, the hacker began depositing BTC into ChipMixer on November 20 after using Ren Bridge, a cryptocurrency bridge protocol. ZachXBT revealed in his analysis that he had discovered a pattern with addresses receiving funds from ChipMixer. Each of the addresses, he claims, follows a similar pattern: "withdrawal from CM," "50% peels off," and "50% deposited to OKX."

Following the discovery of deposits to the OKX exchange, the Director stated on Twitter, "OKX is aware of the situation, and the team is conducting an investigation of the wallet flow."

Another report on November 12 noted that the hack was discovered shortly after FTX declared bankruptcy. At the time, approximately $477 million of the $663 million drained was suspected to be stolen, with the remainder believed to have been moved into safe storage by FTX themselves.

The hacker started transferring their Ether (ETH) holdings to a new wallet address on November 20. After the hack, the FTX wallet drainer was the 27th largest ETH holder, but he dropped 10 positions after dumping 50,000 ETH.

The fact that hackers were able to drain assets from FTX global and FTX.US at the same time, despite the fact that these two entities are completely independent, became a major topic of debate within the crypto community, fueling speculation that it was an inside job.

How will this incident affect the overall crypto market? Let us know your thoughts by sharing this article on social media.

Posted 
Nov 30, 2022
 in 
Crypto News
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