The hacker traded 250,735 ETH (~$235.5 million) of stolen FTX exchanges from 50,000 ETH for wrapped bitcoin from Ren Protocol and connected the assets to a cross-chain bridge for transfer to the main network.
#PeckShieldAlert FTX Accounts Drainer 1 currently holds 200,735.1 $ETH (~$235.5M) & drops to the 37th largest holder of $ETH (from 27th)
FTX Accounts Drainer 1 has transferred 50k $ETH (~$58.5M) to 0x866E, then 0x866E swapped these $ETH for ~3,517 $renBTC bridged out pic.twitter.com/Qokr8bQrvg— PeckShieldAlert (@PeckShieldAlert) November 20, 2022
In a series of transactions, the hacker used decentralized platforms Uniswap, Curve and 1inch for swaps. During the conversion, another representative version of the first cryptocurrency, wBTC, acted as an intermediate asset.
After transferring part of the ETH, the hacker dropped from 27th place in the ranking of Ethereum whales to position 37.
#PeckShieldAlert FTX Accounts Drainer 1 currently holds 200,735.1 $ETH (~$235.5M) & drops to the 37th largest holder of $ETH (from 27th)
FTX Accounts Drainer 1 has transferred 50k $ETH (~$58.5M) to 0x866E, then 0x866E swapped these $ETH for ~3,517 $renBTC and bridged out pic.twitter.com/Qokr8bQrvg— PeckShieldAlert (@PeckShieldAlert) November 20, 2022
By information Chainalysis analysts who also track transactions, the assets are not in the custody of regulators:
“The claims that the funds stolen from FTX were indeed sent to the Bahamas Securities Commission are incorrect. Some of the assets were stolen, some were handed over to regulators.”
Recall that at first the hacker actively transferred the stolen assets into ETH.
