Cryptocurrency exchange FTX is facing an influx. In the morning, it turned out that many altcoins were withdrawn from the exchange and transferred to different addresses. In the middle of these altcoins, there are cryptocurrencies such as SHIB, LINK, AVAX. In the last few hours, altcoin transfers have passed the $600 million mark. Here are the details…
FTX hacker on the move: Cryptocurrency processes
Crypto exchange FTX came to the fore with the flow of millions of funds from FTX wallets. In just a few hours, the extraordinary transfer of nearly $600 million took place. USDT, the stablecoin pegged to the US dollar, was exchanged for DAI. In addition, it turned out that StETH Solana, BNB, LINK, AVAX, MATIC and other tokens were withdrawn by the hacker. The attacker is exchanging all crypto assets for DAI and ETH.
Koindeks.com As we reported, in the morning, the FTX Community Chat administrator announced that the Telegram cluster was attacked by FTX. He popped up a message saying his FTX apps were infected with lousy malware. It warned users to delete the app.
FTX got hacked but highly likely insider job. Do not update or install FTX app. https://t.co/fC5zURrn94
— Ki Young Ju (@ki_young_ju) November 12, 2022
$600 million out of FTX wallets
As it is known, FTX came up with a bankruptcy filing yesterday. Sam Bankman-Fried stepped down as CEO and appointed restructuring expert John J. Ray III as the new CEO. FTX’s new CEO, John J. Ray III, announced consultants Alvarez & Marsal and law firm Sullivan and Cromwell as consultants to restructure FTX. The attack on the subject of speech came after these announcements.
On November 12, abruptly massive funds began moving from FTX and FTX US wallets to a single wallet. However, on-chain data shows that FTX wallets are flooding. There is talk of the possibility of hacker getting help from individuals working in the company to gain access. Ryne Miller, FTX US General Counsel, said in a tweet:
We are investigating anomalies with wallet movements related to the consolidation of FTX balances amid exchanges. The situation is uncertain as other movements are unclear. We’ll share as soon as we get more.
Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges – unclear facts as other movements not clear. Will share more info as soon as we have it. @FTX_Official
— Ryne Miller (@_Ryne_Miller) November 12, 2022
Hacker has 26 coins including SHIB
On-chain information indicates that funds are transferred from FTX and sold via decentralized exchange (DEX). Address starting with 0x59ab currently sells UNI, stETH, 1INCH, WBTC, SUSHI, YFI and LDO. Other tokens are still held, including PAXG, LINK, MATIC, AAVE, SNX, SHIB and APE. In addition, funds of 166 million dollars are transferred to the address starting with 0xd801, including FTT, SRM, MATIC, CHZ, DYDX, BAND, MANA, ENS, CEL, HT, GRT, GALA, CRV and other tokens.
Please pay attention to the safety of your funds, a lot of funds transferred out from FTX and sold through DEX!
Currently $UNI, $stETH, 1INCH, $WBTC, $SUSHI, $YFI, $LDO have been sold.
Also $PAXG, $LINK, $MATIC, $AAVE, $SNX, $SHIB and $APE did not sell.https://t.co/MLYLq9zRMk pic.twitter.com/c23giOclt8
— Lookonchain (@lookonchain) November 12, 2022
