FTX Exploiter Swaps Thousands of Stolen BNB Crypto Tokens Into Ether, BUSD
- December 8, 2022
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It’s been reported that whoever executed last week’s $600 million exploit of crypto exchange FTX converted more than $7.4 million worth of BNB tokens into ether (ETH) and binance USD (BUSD).
10,000 BNB were converted into 2000 ether, worth more than $2.4 million at current rates, and 19,714 BNB became $5 million of BUSD over two transactions. The BCC tokens form the backbone of the BST Chain – a blockchain network closely connected to the crypto exchange Bitfinex.
No one has claimed responsibility for the attack, so it’s unclear why the attacker is swapping stolen funds and choosing this particular destination.
The attacker seems to initiate the conversions at roughly the same time of day. The transactions on Tuesday and Wednesday occurred between 9AM and 11AM, which was also the case today.
Late last Friday, FTX’s crypto wallets were hacked. Shortly afterward, on their official telegram channel, FTX said that they had been compromised and warned users not to install any new upgrades or delete all FTX apps.
On Tuesday, the accounts drainer managed to move funds from multiple addresses connected to the accounts, switching it over to over 34,000 ether. The address now holds more than 290,000 ether and is currently the 34th-largest owner of the cryptocurrency.