FTX Accounts Drainer Swaps Millions in Stolen Crypto, Becomes 35th-Largest Ether Holder

The funds were converted to DAI stablecoins and bridged to the Ethereum network.

By Shaurya Malwa

Nov 15, 2022 at 4:30 a.m. CST

Updated Nov 15, 2022 at 9:12 a.m. CST

Whoever was behind last week’s $600 million exploit of crypto exchange FTX started moving millions of dollars in stolen funds during European morning hours on Tuesday.

The funds were siphoned from FTX’s crypto wallets late Friday. Soon after, the exchange said on its official Telegram channel that it had been compromised, instructing users not to install any new upgrades and to delete all FTX apps.

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