FTX Exploiter Transfers $36.8M in Ether as Sam Bankman-Fried’s Trial Starts

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The crypto wallet address associated with the FTX exploiter shifted approximately $36.8 million in Ether (ETH) in the past 24 hours amid the ongoing court proceedings of the defunct crypto exchange’s ex-CEO, Sam Bankman-Fried (SBF).

Accounts related to FTX and FTX.US were drained of $600 million on Nov. 11, 2022, shortly after the crypto exchange had applied for Chapter 11 bankruptcy. At the time, FTX general counsel Ryne Miller informed traders about the hack caused by malware:

Following almost 10 months of silence, the FTX exploiter started siphoning out the stolen funds, beginning with a transfer of 10,250 ETH worth $17.1 million through four addresses between Sept. 30 and Oct. 1, as confirmed by Spot On Chain.

The exploiter initially held 175,496 ETH ($294 million). However, the current balance in their portfolio has decreased to $196.014 million, as displayed below.

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Since September 30, a total of 67,500 ETH has been transferred out of five out of the 15 wallet addresses linked to the FTX exploiter. Of that amount, 64,948 ETH ($108 million) was transferred through the THORchain router and 52 ETH (worth $84,000) was sent to the Railgun contract. The remaining 2,500 ETH ($4.19 million) was swapped for Bitcoin (tBTC).

The trial of SBF in connection with the collapse of FTX began on October 3. SBF has pleaded not guilty to all seven counts of fraud and money laundering charges. During the trial, the Department of Justice and SBF’s defense team presented their statements to the jury. The DOJ is still focusing its arguments on SBF’s alleged role in misleading investors on the platform, while the defense has argued that Bankman-Fried is a young entrepreneur who made business decisions that “didn’t work out”.

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Stay informed about the recent progress of the SBF–FTX court trials by reading more.

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