ALERT – FTX hacking, delete the application! Almost $600 million transferred from FTX wallets

Cryptocurrency exchange FTX sees millions of funds flowing out of FTX wallets. Nearly $600 million in abnormal transfers have been reported in a matter of hours, with some withdrawals being exchanged from Tether to DAI. Similarly, StETH Solana, BNB, LINK, AVAX, MATIC and other tokens were allegedly withdrawn by the hacker. The exploiter exchanges all crypto assets for DAI and ETH, which cannot be frozen.

The FTX Community Chat admin posted a message in the Telegram group that FTX has been hacked and that FTX apps are malware. He warned users to delete the app and not go to the FTX website, which could download Trojans. However, it is not clear whether the administrator has resigned or not.

600 million exits FTX wallets

A large amount of funds began exiting the FTX and FTX US portfolios into a single portfolio on November 12, which was suspected to be the beginning of the bankruptcy process. However, data and reports on the chain proposed that FTX wallets were hacked and that the exploiters used inside help to gain root access.

Foobar confirmed that someone sent a chain message to the recipient account with the 4-byte selector “0x3d24a1ff”, which is the hash of the function name “Rye Pull All“. Some claim that this is an inside job as an update was released with the intention of leaking all private keys. Users are advised not to update or install the FTX application.

Investigating wallet movement abnormalities related to consolidation of ftx balances across exchanges – unclear facts as other movements are not clear. Will share more info as soon as we have it. @FTX_Official

— Ryne Miller (@_Ryne_Miller) 12 November 2022

FTX US General Counsel Ryne Miller said in a tweet:

“We are investigating anomalies in portfolio movements related to the consolidation of ftx balances across markets – the facts are unclear, as other movements are unclear. We will share more information as soon as we have it.”

The data on the chain indicates that funds have been transferred from FTX and sold via DEX. Currently UNI, stETH, 1INCH, WBTC, SUSHI, YFI and LDO are sold with addresses starting with 0x59ab. Other tokens including PAXG, LINK, MATIC, AAVE, SNX, SHIB and APE are still held.

Please be aware of the safety of your funds, many funds have been transferred from FTX and sold through DEX!

Currently $UNI, $stETH1 INCH, $WBTC, $ SUSHI, $YFI, $LDO has been sold.

Also $PAXG, $LINK, $MATIC, $AAVE, $SNX, $SHIB and $APE not sold. pic.twitter.com/c23giOclt8

– Lookonchain (@lookonchain) 12 November 2022

In addition, FTX has $166 million in funds transferred to the address starting with 0xd801, including SRM, MATIC, CHZ, DYDX, BAND, MANA, ENS, CEL, HT, GRT, GALA, CRV and other tokens.

Additionally, many FTX users also report seeing $0 balances in their FTX.com and FTX US wallets.

FTX filed for Chapter 11 bankruptcy

Meanwhile, cryptocurrency exchange FTX has already filed for Chapter 11 bankruptcy. Sam Bankman-Fried has stepped down as CEO and appointed restructuring expert John J. Ray III as the new CEO.

FTX’s new CEO, John J. Ray III, announced the appointment of consultant Alvarez & Marsal and law firm Sullivan and Cromwell as advisors on the restructuring of FTX.

The cryptocurrency market continues to be under pressure, with the total market capitalization falling more than 3% in the last 24 hours.