An FTX scalper moved $36.8 million worth of ether as the Sam Bankman-Fried experiment began Cryptocurrency scrgruppen

A cryptocurrency wallet address linked to an FTX exploiter has moved nearly $36.8 million worth of Ethereum (ETH) in the past 24 hours amid the ongoing court trials of former cryptocurrency exchange CEO Sam Bankman Fried (SBF).

Accounts linked to FTX and FTX US were drained of $600 million on November 11, 2022, hours after the cryptocurrency exchange filed for Chapter 11 bankruptcy. At the time, FTX general counsel Ryne Miller informed traders about the hack caused by the malware:

“FTX has been hacked. Chat is open. Please do not go to the FTX website, as it may download Trojans. Note that some funds have been recovered.

After nearly 10 months of silence, an FTX exploiter began withdrawing stolen funds, starting by transferring 10,250 ETH worth $17.1 million across four addresses between September 30 and October 1, he confirms. Data From Spot on Chain.

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

Since September 30, a total of 67,500 ETH has been transferred from 5 out of 15 wallet addresses linked to the FTX exploiter.

Of the amount, 64,948 ETH ($108 million) were transferred through the Thorchain router and 52 ETH ($84,000) were transferred to the Railgun contract. The remaining 2,500 Ethereum ($4.19 million) were exchanged for Bitcoin (tBTC).

Related: September becomes the biggest month for cryptocurrency exploitation in 2023: CertiK

The SBF trial in connection with the FTX collapse began on October 3. The businessman has pleaded not guilty to all seven counts of fraud and money laundering.

We decided to clarify the period leading up to it @SBF_FTXtrial. Here’s Bankman Fried’s life as a slammer. From mirror monologues to peanut butter banquets, fall is real. pic.twitter.com/v73IA6d5l2

— Cointelegraph (@Cointelegraph) October 3, 2023

On the second day of the trial, the Department of Justice and the SBF defense team presented their statements to the jury. While the Justice Department continues to focus its arguments on SBF’s alleged role in misleading investors on the platform, the defense argued that Bankman-Fried was a young entrepreneur who made business decisions that “did not work out.”

Read more to stay up to date on the latest developments about the SBF-FTX court trials.

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