FTX hacker moves $4.2m worth of ETH after months of inactivity

The infamous FTX exploiter with address 0x3e957 has resurfaced.

After 10 months of inactivity, the hacker that masterminded the multi-million dollar FTX heist transferred 2,500 ETH, equivalent to $4.2 million, from their dormant address. 

This marks the first activity from the address since the infamous hack almost a year ago. According to blockchain analytics platform Spotonchain, the address 0x3e957 still holds a substantial 12.5K ETH. 

The attacker now reportedly controls a staggering 180,735 ETH across 13 addresses, totaling an approximate value of $302.5 million. 

You might also like: FTX hacker is using ChipMixer which might have ties with the government

Sam Bankman-Fried’s trial looms

Almost a year after the collapse of FTX, founder Sam Bankman-Fried faces an imminent trial. The proceedings are set to commence on Oct. 3, extending for at least 21 days until Nov. 9.

During this period, Bankman-Fried will remain in custody at a Brooklyn prison, where he was detained on Aug. 11. He faces seven counts of fraud, with investigators asserting that he unlawfully seized the assets of FTX clients.

While Bankman-Fried pleads not guilty, the allegations fuel an already intense legal drama surrounding the fate of FTX.

FTX alleged Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, of exploiting their positions within the company to accumulate wealth illicitly, actions believed to have played a significant role in the company’s downfall. This case challenges SBF’s earlier statements, suggesting that his parents were deeply involved in FTX’s operations right from the beginning.

The court filing also contains details about a salary dispute within FTX. Initially offered $200,000 annually, Joseph Bankman sought $1 million in annual compensation for his contributions to the company. This revelation sheds light on the intricate financial dynamics within FTX leading up to its bankruptcy.

FTX token (FTT) price analysis

The price of the FTX token, FTT, has experienced a notable decline since the fall of the SBF empire. Currently, FTT is valued at $1.12, with a 24-hour trading volume of $13,191,466.79.

This marks an over -98% decrease from its all-time high, which was achieved in September 2021. However, there is a silver lining, as FTT has shown a 7% increase in the past 14 days, data from CoinGecko shows.

Read more: Arkham Intelligence offers bounty for identifying FTX hacker
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Quant Pauses Over $115, But Tends To Move In A Range

Image
Jan 06, 2024 at 10:09 // Price Author Coin Idol The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price Analysis by Coinidol.com. Long-term Quant price prediction: ranging This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average...
Read more

Dogecoin Price Prediction: DOGE Surges 22% In A Week As This Innovative Staking Meme Coin Storms Toward $3 Million

Image
The Dogecoin price has surged 22% in the past week even after it fell 2% in the last 24 hours to trade at $0.170 as of 00:35 a.m. EST on trading volume that plunged 37% to $2.06 billion. Dogecoin Price Prediction: DOGE Aiming For A Bullish Rally The Dogecoin price has been in an uptrend in October, as the bulls used the $0.11 support zone to push the price through a markup phase, according to data from GeckoTerminal . DOGE then went through a consolidation phase from mid-October within the $0.1460 range. The Dogecoin price bulls then used the lower boundary of the sideways pattern at $0.13 as the support to push DOGE through a parabolic curve, which indicates strong momentum. DOGE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the price’s general bullish outlook. The RSI is in bullish territory but not yet overbought, currently at 65, meaning there’s still potential for further gains before any risk of a reversal. If the RSI ...
Read more

Netflix’s Bitconned Exposes Crypto’s Dark Side, Unveils Centra Tech’s Scheme

Netflix documentary “Bitconned” unveils details of a crypto scam orchestrated by Centra Tech. The documentary highlights risks in the unregulated crypto space, emphasizing deceptive projects. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. In the recent documentary release from Netflix titled “Bitconned,” viewers are presented with a comprehensive exploration of the nefarious world of crypto, unraveling a tale of deception, fraud, and the ominous rise of dubious crypto ventures. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. Touted as a revolutionary force in the crypto landscape, Centra Tech, was, in reality, a house of cards built on deceit.  The documentary uncovers the mechanics behind the scenes, showing how Centra Tech managed to rake in millions of dollars daily. Ray Trapani, along with co-founders Sohrab Sharm...
Read more