CyberPressor Targets Ethereum Course Ahead of FTX Exchange Trial

A hacker known as the FTX Devodier appeared before the court regarding the bankrupt FTX exchange, transferring approximately $38 million over the weekend. The hearing against FTX and its former leader Sam Bankman-Fried is scheduled to begin on October 3.

Starting from September 30, the hacker utilized the Railgun and Thorchain tools to transfer 22,500 ETH, and also converted 2,500 ETH into 153.4 TBTC, as reported by Arkham Intelligence. The cybercriminal still holds assets worth over $300 million. Previously, FTX declared that the exchange had been robbed of more than $600 million. This incident has sparked speculation about a possible internal conspiracy, and the crypto community is concerned that the fraudster’s transactions may impact the value of ETH.

Bankman-Fried, who is accused of embezzling billions of dollars from FTX’s cryptocurrency reserves, has not yet pleaded guilty to the charges of fraud. Additionally, Bankman-Fried is accused of using investors’ funds to finance his own company, Alameda Research. According to court documents, FTX owed its 50 largest creditors over $3 billion.

On a related note, on December 11, 2022, the prominent cryptocurrency exchange FTX filed for bankruptcy, and Bankman-Fried was put under investigation. On December 13, an arrest warrant was issued, and on December 22, Bankman-Fried was extradited to the United States to face charges. The investigation aims to determine whether Bankman-Fried’s actions contributed to the crisis that led to the liquidation of FTX, as reported by REN TV.

/Reports, release notes, official announcements.