FTX funds on the move as thief converts thousands of ETH into Bitcoin
Cointelegraph
Published Nov 20, 2022 12:15PM ET
Updated Nov 20, 2022 02:00PM ET
According to blockchain analysis company Chainalysis, funds stolen from the FTX crypto exchange are now being converted from ETH into Bitcoin. On Nov. 20, Chainalysis took to Twitter to encourage exchanges to freeze these coins, should the thief attempt to convert them into fiat or further obfuscate the assets through other means.
Amid the controversial collapse and bankruptcy of FTX, news broke that an unknown actor had stolen 228,523 ETH from the exchange. The ownership of these coins, worth a whopping $268,057,479 USD at time of publication, currently rank the thief as one of the largest owners of ETH in the world.
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Written By: Cointelegraph
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