An already terrible story took a fatal turn with the FTX attack earlier this month. Recent data shows that the FTX attacker used ChipMixer to send $4.1 million in Bitcoin to OKX.
Millions were stolen in a hack of the now-bankrupt company, and there are rumors that the stolen money was laundered into Bitcoin and Ethereum. ZachXBT, a Twitter user, has conducted more research and discovered that those digital assets had been moved to another bitcoin exchange.
FTX attackers transferred some of the stolen funds to OKX after using the Bitcoin mixer ChipMixer, and at least $4.1m (255 BTC) has been sent to OKX so far, according to @zachxbt analysis. FTX attackers, widely believed to be internal employees, stole more than $300m FTX assets.
— Wu Blockchain (@WuBlockchain) November 29, 2022
For the now-disgraced exchange firm FTX, November was a tragic month. Shortly after a native token’s sharp decline, news of misappropriated user funds and unmanageable debt grew to the point of a Chapter 11 bankruptcy.
The now-disgraced creator Sam Bankman-nearly Fried’s illegal business saw a fall from grace unmatched in the history of the bitcoin sector. The platform was hacked, and millions of dollars were stolen, so the bad news was still to come.
According to CNBC, the hackers took from the exchange about $477 million worth of cryptocurrencies. The same source mentioned that a sizable portion of the enormous amount taken was transferred to Bitcoin and Ethereum.
However, as Twitter user ZachXBT used on-chain analytics to investigate the ultimate destiny of the hacker’s stolen funds, the story has only advanced. A significant amount of the stolen assets were also discovered to have been moved to another cryptocurrency exchange platform.
“It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX,” the Tweet noted. Subsequently, this was uncovered by following research into the attacker’s deposits on ChipMixer.
Conclusively, it unveiled that, to date, around $4.1 million in Bitcoin was sent to OKX from the attacker. Ultimately, this adds an interesting development to the theft. The user responsible for the stolen funds is likely a user on the OKX platform. Undoubtedly, OKX will have a lot more eyes on them now.
According to Twitter user Wu Blockhain, the findings of ZachXBT were sent to OKX where they proceeded to freeze the culpable account. The FTX attacker is, “widely believed to be an internal employee,” the update states.