In the shrouded realm of blockchain, the FTX hack that transpired on November 11, 2022, stands as a glaring testament to the cryptic trails a nefarious act can leave behind. The Bahamas-based cryptocurrency exchange, FTX, fell prey to an unidentified hacker who made off with a staggering $477 million, plunging the exchange into bankruptcy. The maleficent actor was quick to take to the shadows, embarking on a quest to launder the stolen assets through a maze of decentralized exchanges (DEXs), cross-chain bridges, and mixers.
The pilfered assets witnessed a loss of $94 million in the ensuing days, as the thief hastily funneled them through various blockchain services. RenBridge, a service held by FTX’s sister company Alameda Research, saw $74 million of the stolen cache. Yet, the bulk of these pilfered assets lay dormant, only to stir again as the Bankman-Fried trial neared, suggesting a deliberate orchestration.
The FTX’s hacker…
