That means it will be very difficult for thieves to miss out on gains in a usable form without identifying themselves, said Michelle Lai, a cryptocurrency privacy advocate, investor and consultant. It says it tracks the movement of FTX funds that have been collected. morbid fascination. But the real question, Lai says, is whether identifying the thief will give you any leverage. After all, many of the most prolific cryptocurrency thieves are Russians or North Koreans operating in non-extradition countries beyond the reach of Western law enforcement. “It’s not a question of whether they know who did it. The question is whether it can be done,” Lai says. “Whether they are on land or not”
Meanwhile, Lai and many other crypto watchers have been watching closely. 1 Ethereum address It currently holds approximately $192 million worth of funds. The account has sent small amounts of Ethereum-based tokens to accounts of Ethereum inventor Vitalik Buterin and Ukrainian cryptocurrency fundraisers, as well as accounts on various exchanges. Some seem to have little or no value. But Mr Lai said these transactions were meant to simply complicate the situation for law enforcement and other observers, and were intended to take place before any actual attempts to launder or liquidate money. I’m assuming it’s likely that there are.
Whether the theft totals $338 million or $477 million, the FTX theft hardly represents an unprecedented amount in the world of cryptocurrency crime. In the late March hack of Ronin bridge, a virtual currency exchange for games, North Korean thieves stole $540 millionAnd earlier this year, a cryptocurrency chase led to the bankruptcy of a New York couple Suspicion of $4.5 money laundering a billion in code.
But in the case of the high-profile FTX theft and exchange-wide collapse, tracking the erroneous funds could help quell or confirm swirling suspicions that someone within FTX was responsible for the theft. It might help. The company’s Bahamas-based CEO Sam Bankman-Fried, who resigned on Friday, lost virtually all of his $16 billion fortune in the collapse.according to Unconfirmed Report from CoinTelegraphhe and two other FTX executives are under “supervision” in the Bahamas, preventing them from leaving the country. Had a “back door” This was built into FTX’s compliance system and allowed me to withdraw funds without warning others at the company.
Despite these allegations, TRM Labs’ Janczewski said the disruption of the FTX meltdown may have provided an opportunity for hackers to exploit panicked employees and trick them into clicking on phishing emails. points out. Alternatively, as Michelle Lai points out, bankrupt Insider employees may have collaborated with hackers as a means of regaining some of their lost assets.
Amid growing doubts over whether or to what extent FTX’s own management was responsible for the theft, the incident looks much older than any recent cryptocurrency heist. increase. Bitcoin, discovered in 2014, was issued by the first cryptocurrency exchange, Mt. Gox. In that case, blockchain analysis conducted by cryptocurrency tracking firm Chainalysis with law enforcement helped identify the theft by outside hackers rather than Mt. Gox staff. Ultimately, Russian Alexander Vinnik was arrested in Greece in 2017 and subsequently convicted of laundering stolen Mt. acquitted management who were
It remains to be seen if history will repeat itself, and if the cryptocurrency pursuit will prove the FTX staff’s innocence. There is no doubt that the person behind the FTX theft will have an answer sooner or later.