Blockchain intelligence company Elliptic has linked FTX’s $400 million hack to Russian hackers, citing the unsophisticated method of laundering employed by the attacker.
Per Elliptic’s report, the attacker was converting the stolen funds to Bitcoin using Renbridge, a service owned by the bankrupt exchange sister company, Alameda Research. Consequently, the attacker used ChipMixer and other crypto-mixing services to cover their tracks.
This laundering method is “distinct and unsophisticated compared to those typically used by North Korea-backed Lazarus Group,” Elliptic said.
“A Russia-linked actor seems a stronger possibility. Of the stolen assets that can be traced through ChipMixer, significant amounts are combined with funds from Russia-linked criminal groups, including ransomware gangs and darknet markets, before being sent to exchanges.”
FTX suffered a $415 million crypto hack in November last year after the company filed for bankruptcy. The attacker recently moved par
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