According to publicly available blockchain data, approximately 2,500 ether (equivalent to $4 million) that was associated with the suspected breach of FTX during the incident last year has begun to move for the first time in almost a year.
These funds have been distributed through various transactions. A portion of 700 ether was transferred via the Thorchain Router, a cross-chain bridge with a strong focus on privacy. Additionally, 1,200 ether was moved through Railgun, a DeFi wallet designed for privacy-enhanced transactions. There is still 550 ether remaining in a separate wallet.
It’s important to note that the exploiter responsible for the original breach still holds 12,500 ether, equivalent to $21 million, in the original wallet.
As of now, the identity of the individual or group behind the FTX exploit remains shrouded in mystery. The exact method by which the funds were siphoned from FTX and the identity of the perpetrator remain undisclosed.
The incident occurred on November 11, 2022, shortly after FTX filed for Chapter 11 bankruptcy protection, and its founder, Sam Bankman-Fried, resigned amid controversy. Notably, around the time of the exploit, approximately 21,500 ether (equivalent to $27 million at the time) was converted into the stablecoin DAI.
Sam Bankman-Fried is set to face trial next week and has entered a plea of not guilty to all charges against him.