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FTX hacker could be using SBF trial as a smokescreen: CertiK

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The unidentified FTX hacker may be using Sam Bankman-Fried’s fraud trial as cover for a new spate of illicit fund movements, says CertiK’s director of security operations, Hugh Brooks.

The hacker responsible for stealing over $400 million from FTX and FTX US in November could be using the hype around Sam Bankman-Fried’s fraud trial to further obfuscate the funds, says CertiK’s director of security operations Hugh Brooks.

“It's also plausible that the FTX drainer harbored an assumption that the trial would monopolize so much attention from the Web3 industry that there would be insufficient bandwidth to trace all stolen funds while also covering the trial concurrently.” After FTX employees realized that the attacker had complete access to a series of wallets, the team declared that"the fox in the hen house” and scrambled to keep the remaining funds out of the hacker’s hands.

Source: Law Daily Report (lawdailyreport.net)

 

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