FTX 2022 Attack Update: Culprit Alters Laundering Method Amid Rising Speculations

FTX 2022 Attack Update: Culprit Alters Laundering Method Amid Rising Speculations



The individual responsible for the 2022 FTX assault has changed their method of converting their illicitly acquired Ethereum into Bitcoin.



On-chain expert Lookonchain observed on Oct. 6 that the culprit from the previous FTX breach had ceased utilizing THORChain to transfer their ill-gotten gains and started leveraging the Threshold Network instead.



Data from Lookonchain revealed that this attacker turned more than 3,000 Ether (ETH), worth about $4.9 million, into tBTC through the Threshold network. Following this, as per Lookonchain, the perpetrator successfully exchanged roughly 75,636 ETH, with a value of $124 million, for Bitcoin. An additional 109,485 ETH, worth around $180 million, is still retained in their digital wallet.The Threshold system serves as a decentralized bridge between Bitcoin (BTC) and Ethereum networks,


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#Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #FTX, #News, #Regulations

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