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Hackers without a plan? FTX hack puzzles

The FTX hacker was in all likelihood an insider who had access to FTX hot wallets, blockchain analyst Dyma Budorin tells Coindesk. In addition, the attacker behaved amateurishly and probably lost part of his credit when exchanging the stolen tokens. At the moment, however, the hacker still holds 339 million US dollars in crypto.

“It’s becoming clearer by the day that the FTX exploit isn’t very sophisticated,” Miguel Morel, chief executive of blockchain analytics firm Arkham Intelligence, told CoinDesk.

A fatal mistake made by the hacker also speaks for the low level of professionalism: In order to settle the transaction fees for stablecoin transfers on Tron, the hacker transferred 500 TRX from his verified (!) Kraken account to his Tron address. This is logically blacklisted.

“He made a stupid mistake,” said Burodin.

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