{"id":13615,"date":"2023-10-12T17:40:14","date_gmt":"2023-10-12T17:40:14","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13615"},"modified":"2023-10-12T17:40:16","modified_gmt":"2023-10-12T17:40:16","slug":"multimillion-ftx-hack-linked-to-russian-hackers-elliptic","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13615","title":{"rendered":"Multimillion FTX hack linked to Russian hackers: Elliptic"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p class=\"s3\">Blockchain intelligence company Elliptic has linked FTX&#8217;s $400 million hack to Russian hackers, citing the unsophisticated method of laundering employed by the attacker.<\/p>\n<p class=\"s3\">Per Elliptic&#8217;s report, the attacker was converting the stolen funds to Bitcoin\u00a0using Renbridge, a service owned by the bankrupt exchange sister company, Alameda Research. Consequently, the attacker used ChipMixer and other crypto-mixing services to cover their tracks.<\/p>\n<p class=\"s3\">This laundering method is &#8220;distinct and unsophisticated compared to those typically used by North Korea-backed Lazarus Group,&#8221; Elliptic said.<\/p>\n<p class=\"s3\">&#8220;A Russia-linked actor seems a stronger possibility. Of the stolen assets that can be traced through ChipMixer, significant amounts are combined with funds from Russia-linked criminal groups, including ransomware gangs and darknet markets, before being sent to exchanges.\u201d<\/p>\n<p class=\"s3\">FTX suffered a $415 million crypto hack in November last year after the company filed for bankruptcy. The attacker recently moved part of the stolen funds amid Sam Bankman-Fried&#8217;s ongoing trial in New York.<\/p>\n<h2 class=\"s3\">The hack may also be an insider job<\/h2>\n<p class=\"s3\">Elliptic further noted that an insider might have carried out or assisted in the exploit.<\/p>\n<p>According to the firm, some FTX employees might have capitalized on the chaos surrounding the company&#8217;s bankruptcy to move some of the company&#8217;s crypto assets.<\/p>\n<p>Elliptic furthered that another suspect might be the disgraced founder of the exchange, SBF. However, the firm noted that SBF&#8217;s limited access to the internet would hamper any laundering efforts, citing one instance where the attacker moved funds while he was in court.<\/p>\n<p>The report also highlighted that the exchange&#8217;s weak security structure could have made it an easy target for external actors. The exchange&#8217;s new CEO, John Ray III, revealed that the company&#8217;s crypto assets&#8217; private keys were not securely stored, and a former Alameda employee also reported how the company lost millions to leaked private keys.<\/p>\n<p>The post Multimillion FTX hack linked to Russian hackers: Elliptic appeared first on CryptoSlate.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/multimillion-ftx-hack-linked-to-russian-hackers-elliptic\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain intelligence company Elliptic has linked FTX&#8217;s $400 million hack to Russian hackers, citing the unsophisticated method of laundering employed by the attacker. Per Elliptic&#8217;s report, the attacker was converting the stolen funds to Bitcoin\u00a0using Renbridge, a service owned by the bankrupt exchange sister company, Alameda Research. Consequently, the attacker used ChipMixer and other crypto-mixing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-13615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13615"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13615\/revisions"}],"predecessor-version":[{"id":13617,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13615\/revisions\/13617"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13616"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}