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FTX hacker sells ‘stolen’ ether in exchange for packaged bitcoins

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Key facts:
  • The alleged hacker is trading ETH with wBTC and RenBTC, according to network logs.

  • Sources claim that the “hacker” may actually be Bahamian authorities.

The FTX hacker is once again making a movement of funds: he is now exchanging the fortune he has in ETH for wrapped bitcoins. This was recorded on the Ethereum network, where two transfers worth $15 million and $12 million are visible.

In total, in recent hours, the alleged the hacker has changed a sum of ether worth $27 million for the bitcoins involved. in wBTC format and RenBTC. The movements were made through the centralized 1inch exchange, with funds being sent to addresses not previously used by the hacker.

It is worth mentioning that a week ago, just hours after FTX Group and Alameda Research filed for bankruptcy, it was reported that a hacker had stolen $600 million from the exchange. According to the FTX support team, the unknown entity managed to get its hands on a number of Solana, Ethereum, and Binance Smarth Chain tokens.

A few days after this event, the one or those with access to the funds began trading these assets in ether (ETH). In this way, from one day to the next, the FTX hacker had at his disposal one of the richest addresses in all of Ethereum. So much so that after the two transfers made today, the entity still has $270 million available. at MAIN BAG.

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The most puzzling aspect of this whole situation is that rumors are multiplying as to who the hacker who accomplished this feat might be. Initially it was speculated that former FTX CEO Sam Bankman-Fried may be behind the transfers. However, a recent Reuters report, brings the suspicions to government authorities.

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Not a hacker, but Bahamian authorities?

According to the Reuters sources, funds mobilized from FTX portfolios has been endorsed by Sam Bankman-Fried and the co-founder of the exchange, Gary Wang. However, they did not end up under their management, but under that of the Bahamian authorities.

Both executives allegedly made this decision to prevent the FTX bankruptcy case in the United States from being pursued. To date, the exchange debacle is being investigated by more than one government authority, as both the United States and the Bahamas are conducting a review of the event.

However, with the continued moves made with the money “stolen” by the hacker almost a week ago, the explanation that the Bahamian government has control over such funds creates even more uncertainty. Personalities in the cryptocurrency ecosystem, such as the founder of the incubator IBC Group, are questioning this version of events.

With this doubt unclarified, uncertainty remains as to whether the alleged FTX hacker will continue to move the remaining ETH funds. If so, experts point out that it was necessary to remain vigilant because this is a capital-intensive address.which could wreak havoc on the Ethereum market. For the time being, the cryptocurrency has no registered a significant drop and remains above $1,100 per unit.

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