{"id":39436,"date":"2022-12-27T21:27:52","date_gmt":"2022-12-27T21:27:52","guid":{"rendered":"https:\/\/egrowonline.com\/?p=39436"},"modified":"2022-12-27T21:27:52","modified_gmt":"2022-12-27T21:27:52","slug":"us-department-of-justice-probing-372m-ftx-exploit-report","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=39436","title":{"rendered":"US Department of Justice probing $372M FTX exploit: Report"},"content":{"rendered":"


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According to a Dec. 27 Bloomberg report,\u00a0the United States Department of Justice has launched<\/a> an investigation into the whereabouts of approximately $372 million in missing digital assets from now-defunct cryptocurrency exchange FTX and FTX US. On Nov. 12, amid its bankruptcy and internal collapse, FTX warned customers of abnormal wallet activity regarding at least 228,523 Ether (ETH<\/a>) transferred out of the exchange from an unknown perpetrator.\u00a0<\/p>\n

On Nov. 11 \u2014 the day of the company\u2019s bankruptcy filing \u2014 FTX US general counsel Ryne Miller confirmed that the transactions were unauthorized<\/a> and that the subsidiary exchange had moved all crypto to cold wallets as a precaution. On Nov. 20, blockchain forensics firm Elliptic wrote that the unauthorized transfers amounted to $477 million and the unknown perpetrator swapped the stolen Ether for RenBTC before being bridged to Bitcoin (BTC<\/a>) through the RenBridge service. Ren was acquired by FTX-linked hedge fund Alameda Research in 2021 and has been alleged by Elliptic to \u201claunder hundreds of millions of dollars in crypto.\u201d<\/p>\n

Disgraced FTX founder Sam Bankman-Fried claimed that the incident was perpetrated by either a former FTX employee or someone who had unauthorized access to a former employee\u2019s computer. \u201cI\u2019ve narrowed it down to like eight people. I don\u2019t know which one it was,\u201d he said in an interview with citizen journalist Tiffany Fong<\/a>.<\/p>\n

In the issue\u2019s last known update on Nov. 29, crypto analyst ZachXBT alleged that a portion of the stolen funds was transferred to Singapore-based exchange OKX using a Bitcoin mixer. Lennix Lai, managing director of OKX, responded: \u201c#OKX is aware of the situation, and the team is investigating the wallet flow.\u201d<\/p>\n

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#OKX<\/a> is aware of the situation, and the team is investigating the wallet flow.<\/p>\n

\u2014 lennixlai.eth (OKX) (@LennixOKX) November 29, 2022<\/a><\/p><\/blockquote>\n<\/div>\n


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According to a Dec. 27 Bloomberg report,\u00a0the United States Department of Justice has launched an investigation into the whereabouts of approximately $372 million in missing digital assets from now-defunct cryptocurrency exchange FTX and FTX US. On Nov. 12, amid its bankruptcy and internal collapse, FTX warned customers of abnormal wallet activity regarding at least 228,523 […]<\/p>\n","protected":false},"author":1,"featured_media":39437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[13069,2880,1802,2258,5238,13068,146],"class_list":["post-39436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-372m","tag-department","tag-exploit","tag-ftx","tag-justice","tag-probing","tag-report"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/d2fd49de-0962-4a1e-90d1-e6c08db9ec98.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39436"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39436\/revisions"}],"predecessor-version":[{"id":39438,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39436\/revisions\/39438"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/39437"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39436"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}