Arkham intelligence firm claims that a hacker from FTX swapped $50M worth of $Dai for $Ethereum while in a state called “panic”. This hack is believed to be an inside job. Kraken CEO Nick Percoco confirmed that they have the identity of the attacker. Hacken claims that the hacker must have had access to the private keys in order to exploit FTX’s cold-storage wallets. $20M in PAXG was frozen across the attackers’ four addresses. The associated address was

  

Hacker at FTX reportedly made $50M in $Dai to $Ethereum while in a state “panic,” according to intelligence firm Arkham. Hacker also had to have access the private keys to exploit FTX cold storage wallets. $20M in PAXG was frozen across the four addresses. According to FTX hack, the associated address has reportedly made $48,265,787 worth of stablecoin $Dai into 36.567 Ethereum. This makes it the 35th largest holder for the second-largest crypto market cap. According to data from LookOnChain, the average price that ETH hacker paid for ETH was $1,284.79. FTX Accounts Drainer purchased 37,567 $ETH together with all 48,265,787 $DAI, at an average price of $1,284.79.

Now he holds 228,524 $ETH ($290.3M) and 8,185 $PAXG ($14.5M)https://t.co/e1XwfLJQGq pic.twitter.com/yf7YtUc4Y9– Lookonchain (@lookonchain) November 15, 2022 According to intelligence firm Arkham, the FTX hacker seems to be panicking after losing a large number of their token holdings to slippage and being blacklisted in four different addresses.$ 20M in PAXG was frozen accross the attacker’s four addresses that hold PAXG. The hacker from FTX allegedly stole $477M from the bankrupt FTX exchange, just days after it filed for Chapter 11 bankruptcy. This was an Inside Job? Although there are many unknowns about this hack, many believe it to be an inside job. The hack started around the same time that FTX officials posted a tweet about their Chapter 11 Bankruptcy filing. Hacken, the chief executive of security firm Hacken, told Coindesk Tuesday that Hacker had access to all FTX cold storage wallets. This type of access usually requires private keys. The user misidentified themselves during the Kraken exchange transaction. “We know the identity” – Nick Percoco (CEO of Kraken) revealed the information via Twitter on November 12. The identity of the user is still to be revealed to public.