Elliptic, a blockchain analytics and surveillance firm, has proposed that the mysterious hacker behind the $477 million FTX exchange hack in November last year.
Elliptic Suggests FTX Hack in 2022 Is Linked to Russian Group
Elliptic, a blockchain analytics and surveillance firm, has proposed that the mysterious hacker behind the $477 million FTX exchange hack in November last year, just as the exchange collapsed, may be tied to a Russian-affiliated organization.
Elliptic's study reveals that funds were transferred when FTX founder Sam Bankman-Fried was in a Manhattan courtroom, casting doubt on the allegation that he was the perpetrator. To conceal the stolen funds, the hacker used ChipMixer, an unlicensed Bitcoin privacy mixer previously targeted by the DOJ.
Elliptic noted that the funds were pooled with those from Russia-linked criminal groups before being transmitted to exchanges, implying the involvement of a Russian intermediary. Despite some links to sanctioned mixers, Elliptic says the attack indicates somewhat unsophisticated money laundering procedures in comparison to the notorious North Korean Lazarus Group, recently involved in the $54 million CoinEx hack.
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