FTX hacker moved 50,000 ETH into Ren Protocol-wrapped Bitcoin

The hacker who stole more than 250,735 ETH (~$235.5 million) from the FTX exchange swapped 50,000 ETH for wrapped Bitcoin from Ren Protocol and connected the assets to a cross-chain bridge to move to the mainnet.

#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 transffered 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

2/ Reports that the funds stolen from FTX were actually sent to the Securities Commission of The Bahamas are incorrect. Some funds were stolen, and other funds were sent to the regulators.

— Chainalysis (@chainalysis) November 20, 2022

«The statements that the funds stolen from FTX were actually sent to the Securities Commission of The Bahamas are false. Some assets were stolen, some were handed to regulators.»

1) We recently posted an update regarding how Ren will move forward from Alameda: https://t.co/VFEYHbjZmz

— Ren (@renprotocol) November 20, 2022

After converting part of the ETH, the hacker dropped from 27th place in the Ethereum-whales ranking to 37th position.

In a series of transactions, the hacker used decentralized platforms Uniswap, Curve and 1inch for swaps. During the swaps, an intermediate asset served as another representation of the first cryptocurrency — wBTC.

Initially, the FTX hacker was actively transferring the stolen assets into ETH.

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