Chainalysis In search of FTX hackers

About FTX

FTX is one of the leading cryptocurrency exchanges in the world. Infact, by volume FTX was the second largest exchange after Binance sometime back.

Founder of FTX

Sam Bankman-Fried is the founder of FTX. He's also the founder of Alameda Research, the investment arm of FTX.

The Bankruptcy

Acc. to a statement released by Sam, FTX requires over $8 billion to overcome bankruptcy. It has filed for bankruptcy.

FTX Exchange hacked

Admin of FTX Telegram group revealed that FTX was hacked. There's no further  update from the team.

Total Damage

$663 million worth of cryptocurrency has been drained from the exchange  after FTX filed for bankruptcy.

The Actual Heist

Blockchain analysis Elliptic stated that $477 million stoled by the hackers to unknown wallets & remaining by FTX to  its cold storage wallets.

Cannot take the money

Blockchain analysis firms assured that hackers won't be able to take money out of the exchanges even if they use mixers.

What Chainalysis say

Chainalysis is working with new FTX team & tracking down the funds movement. It has also informed exchanges to stop the hackers from cashing out.

Hacker making the move

The hacker has converted ETH to BTC and probably mixing funds before cashing them out from an exchange.

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