The post Russian Attackers Suspected in FTX Hack, Says Elliptic appeared first on Coinpedia Fintech News
According to analysis firm Elliptic’s findings, which were shared with CoinDesk, a portion of the alleged $400 million taken last November from the now-defunct FTX crypto exchange may have connections to cyber criminal organizations based in Russia.
Involvement with ChipMixer
The money, held mainly in ether (ETH), stayed idle for five days before a tranche of 65,000 ETH ($100 million) was sent via the RenBridge service to the Bitcoin blockchain. The attackers then utilized a mixer, a technology built on the blockchain that hides addresses.
2,849 Bitcoins (BTC) out of the 4,536 Bitcoins converted from the ether at RenBridge were delivered via mixers, mostly a service called ChipMixer, which has been shut down for money laundering. Tracing these assets is harder, but at least $4 million was moved to exchanges, where it might have been cashed out.
After an international law enforce
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