Hacker of FTX dumping ETH for BTC

[doomloop]

So it looks like they sent 15000 ETH each to 12 different addresses. Most likely they will dump those. However they can’t on ren anymore because they stopped the minting process. So they will need to find another cross chain way.

Whenever these coins move there is volatility in the markets. Creating a lot of fear. Like I said before. Most likely they are taking trades on these movements and that’s how they plan on profiting. Not cashing out which is risky.

This is an unsual way of hacking. Normally hackers will just sell right after they got the coins but the one we have here looks like they want to manipulate some shitcoins first and took extra profit out it before they finally finish the act. It's not only fear they are creating but they also want to make people greedy but people must be wiser this time to not support this act. Not only it is risky but the funds that are involved here are from those who invest on FTX.

I don't think what happens there is just a normal hack but SBF must be involved with it. There's even a news last time where bahamas govt ordered SBF to hack FTX and transfer the funds to them.

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[tokeweed]

Lol.  Whoever is in control of those coins is def laundering them.  We can't even be sure anymore if the news about the coins held by the Bahaminian government and the coins held by the hacker are the same thing.  It could all be smokes and mirrors at this point as there are some groups out there want to steal it for themselves.

What they could do is convert to renBTC, then to real BTC, deposit to lower tier exchanges and convert to XMR.  From there it could go anywhere.

Yep, this makes most sense for now. With the small note that they can easily stay on Bitcoin and mix the coins, so they don't risk another exchange; or maybe go to XMR after mixing.

You could use a mixer but I don't think lower tier exchanges won't bother doing all the work in linking the ETH wallet holding renBTC to the BTC wallet where the conversion went.  I'm talking about the really low tier exchanges here that have XMR listed like Trade Ogre.  Rofl.  And does Yobit still exist?    That was a fun one.

[OgNasty]

My understanding is that the hacker is using Bitcoin and ChipMixer the launder his stolen funds. This sort of thing is terrible for the Bitcoin community as it will only shine negative light on the infrastructure and lead to industry damaging regulation as a result to try and put a stop to these bad actors. It’s like FTX existed only to fuck over customers and lead to damaging regulation while funding the democrats with stolen funds. You paying attention yet?

[fzkto]

My understanding is that the hacker is using Bitcoin and ChipMixer the launder his stolen funds. This sort of thing is terrible for the Bitcoin community as it will only shine negative light on the infrastructure and lead to industry damaging regulation as a result to try and put a stop to these bad actors. It’s like FTX existed only to fuck over customers and lead to damaging regulation while funding the democrats with stolen funds. You paying attention yet?

I'm not quite sure why you say ChipMixer was used in this story. Although it is specifically designed for this kind of action and it's probably not the worst thing that has been done with this mixer. But the mixer has been around for a long time now and has not yet had any negative impact. I don't have a negative attitude towards such things, after all it is not only cryptocurrencies that are used to do bad acts.

[adaseb]

Are these chip mixers actually completely untraceable? I read a report somewhere that if a large enough player goes thru a mixer then people will perform an analysis and be able to link the bitcoins completely after the mix. No idea if this is true or not.

Seems the only sure way is by using monero, however there is no bridge between monero and ETH or BTC right now. So only way is going thru an exchange which is very risky. Only way would be to use non KYC exchanges but it would take forever with a large amount such as this.

[Popkon6]

Due to the FTX token hack, the market started dumping in a way beyond imagination.  Not only Bitcoin and Ethereum are being dumped but all cryptocurrency coins are being dumped.  Because FTX holders they only trade in Bitcoin and Ethereum and BNB unique coins.  Because of this, all coins and cryptocurrency markets including Bitcoin and Ethereum are on the way to dumping.

[Davian144]

Due to the FTX token hack, the market started dumping in a way beyond imagination.  Not only Bitcoin and Ethereum are being dumped but all cryptocurrency coins are being dumped.  Because FTX holders they only trade in Bitcoin and Ethereum and BNB unique coins.  Because of this, all coins and cryptocurrency markets including Bitcoin and Ethereum are on the way to dumping.

Actually dumping was happening before the FTX hacks happened, but not as bad as it is now or after the FTX hacks happened. Because when problems with the FTX exchange were exposed to the public through various media, the market conditions immediately changed for the worse with continuous dumping.

So this actually started with normal dumping and was continued with the FTX exchange problem so that the dumping size became much bigger than before. Because when Bitcoin starts dumping, others will also experience the same thing.

[Lucius]

Are these chip mixers actually completely untraceable? I read a report somewhere that if a large enough player goes thru a mixer then people will perform an analysis and be able to link the bitcoins completely after the mix. No idea if this is true or not.

One member of the forum published such research in which he managed to break the privacy between incoming and outgoing transactions (mixed coins). The only mixer that he did not manage to break at that moment was CM, although he admits that he did not spend too much time in that direction.

I'm not quite sure why you say ChipMixer was used in this story.

For the reason that he thinks that this specific mixer is to blame for everything, even though there are other mixers and various other ways through which any slightly more intelligent criminal can launder the money. Say that someone used a specific service without presenting any evidence is not something serious forum members should do.

[suzanne5223]

Are these chip mixers actually completely untraceable? I read a report somewhere that if a large enough player goes thru a mixer then people will perform an analysis and be able to link the bitcoins completely after the mix. No idea if this is true or not.

Yes, if a large amount of Bitcon is mixed professional blockchain analysis maybe able to link the transaction together and this is why some reputable crypto mixing site set their max BTC. However, to provide total privacy it is better to use 2-3 reputable privacy service.

Seems the only sure way is by using monero, however there is no bridge between monero and ETH or BTC right now. So only way is going thru an exchange which is very risky. Only way would be to use non KYC exchanges but it would take forever with a large amount such as this.

There's some no KYC and privacy support exchange that works with Monero. Besides, I once use Crypton Exchange to change BTC for Monero before using the local monero through the use of their Idyll browser which is an advanced Tor browser.

Due to the FTX token hack, the market started dumping in a way beyond imagination.  Not only Bitcoin and Ethereum are being dumped but all cryptocurrency coins are being dumped.  Because FTX holders they only trade in Bitcoin and Ethereum and BNB unique coins.  Because of this, all coins and cryptocurrency markets including Bitcoin and Ethereum are on the way to dumping.

There is a lot of misinformation going on about the FTX issue even CZ was make a Tweet about some crypto currency news sites that are spreading false information. The msn news here stated that it was not hacked.

[Yatsan]

Due to the FTX token hack, the market started dumping in a way beyond imagination.  Not only Bitcoin and Ethereum are being dumped but all cryptocurrency coins are being dumped.  Because FTX holders they only trade in Bitcoin and Ethereum and BNB unique coins.  Because of this, all coins and cryptocurrency markets including Bitcoin and Ethereum are on the way to dumping.

Actually dumping was happening before the FTX hacks happened, but not as bad as it is now or after the FTX hacks happened. Because when problems with the FTX exchange were exposed to the public through various media, the market conditions immediately changed for the worse with continuous dumping.

So this actually started with normal dumping and was continued with the FTX exchange problem so that the dumping size became much bigger than before. Because when Bitcoin starts dumping, others will also experience the same thing.

Yup there was a decrease already on the market value of cryptos right before the issue which happened recently but on the other hand, it made the dump worse for sure because many people panicked that their assets would be gone
 Stories were heard that some were liquidated in an instant 'coz their assets are in the position and what happened is not something expected by many people. Dumping is just a normal thing in this industry as part of market volatility but what happened with FTX has something to do with exchanger's negligence on securing networks.

[Crypto Legend]

Hackers will indeed make chaos, the hack wallet case is indeed a sad and dangerous thing, especially now that more and more evil programs are scattered on the internet which of course aims to steal assets, always be vigilant and make sure we follow security guidelines so that they are not hit by hack.

[Wong Goblog]

It is natural that anyone will sell Altcoins to buy Bitcoin, they are worried that if Altcoins drops significantly, the assets they stole will be lost, and the best and safe way is to sell all assets and then move to Bitcoin so that their assets are safer or even rising.