FTX Hacker Transfers $4.1 Million in Bitcoin to OKX

The FTX hacker appears to have moved some of the stolen bridged assets to OKX. 

On-chain sleuth ZackXBT has tracked down some of the mixed Bitcoin funds stolen by the mysterious FTX hacker this month. 

The analyst found that $4.1 million worth of Bitcoin (255 BTC) has ended up on OKX, a cryptocurrency exchange. 

As explained on Twitter, the hacker initially deposited the stolen funds to CoinMixer – an anonymous Bitcoin mixing service designed to make on-chain Bitcoin transfers harder to track. 

The first CoinMixer deposit was made on November 20th after the attacker used Ren Bridge to move assets from Ethereum’s blockchain to Bitcoin’s. As of Tuesday, there is $7 million in ETH remaining on the address. 

After examining the deposits, ZackXBT said that the hacker had likely transferred those funds to OKX, after withdrawing from the mixer. 

“So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX,” he said.

 The analyst further elaborated that 50% of funds were “peeled off” post CoinMixer withdrawal, as another 50% were sent to OKX. 

The FTX hacker drained over $400 million in funds from the exchange just hours after it declared bankruptcy on November 11th. It has since commenced numerous swaps and bridge transfers obscuring the trail of the funds. 

At one point, the exploiter’s address became the 35th largest holder of ETH, though the attacker’s identity remains unknown. 

Bahamian regulators claimed earlier this month that they were the ones behind the hack, having directed the transfer of funds to its own wallet for “safekeeping.” However, some suspect that this could be an inside job.