FTX hacker who stole 228,523 ETH enters Ethereum whale list
The anonymous hacker who stole 228,523 ETH (~$288.5 million) from FTX has turned up as 35th in the list of the largest holders of the second-largest cryptocurrency by market capitalization.
FTX Accounts Drainer (0x59AB…32b) has conducted multiple swap and cross-chain operations for the past day and currently holds ~$338,598,702 of assets.
The majority of the funds are held in the
0x59ABf3837Fa962d6853b4Cc0a19513AA031fd32b address.Current balance: pic.twitter.com/SMrkbcwULL
— Beosin Alert (@BeosinAlert) November 15, 2022
According to Beosin researchers, the attacker conducted several swap and cross-chain operations. He currently owns assets worth about $338.6 million. The majority of them are held in Ethereum.
The hacker appeared on Ethereum whales list from CoinCarp after the Beacon Chain deposit contract, many exchanges, second-layer protocols and DeFi bridges. His share stood at 0.19%.
The top 20 wallets account for 27.7% of Ethereum’s circulating supply, the top 50 for about a third.
According to Elliptic, the total damage from the hacker’s actions amounted to $477 million, which is more than $400 million higher than the initial estimate. He converted most of the stolen funds into Ethereum. $186 million of the $663 million withdrawn that day was moved by FTX itself to cold wallets.
Cointelegraph interviewed experts who, at the time of the incident, suggested that the breach was carried out by an insider.
“If there was no compromise of a private key (for which there is currently no evidence), we cannot rule out that someone with access to FTX and FTX US wallets moved the funds to their own wallets,” — commented Hugh Brooks, Chief Security Officer at Certik.
As CoinDesk reports, CTO Gary Wang, head of development Nishad Singh and former CEO of the company Sam Bankman-Fried controlled the code, the exchange’s matching mechanism and the funds. A source told the publication that they doubted that any other employees could track it in case of malicious action.
Earlier, former MicroStrategy head Michael Saylor and Binance CEO Changpeng Zhao called for self-custody of crypto assets.
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