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Hackers begin to launder $477 million of stolen crypto – EAST AUTO NEWS

Hackers begin to launder $477 million of stolen crypto


FTX filed for chapter within the U.S. on Nov. 11, 2022, searching for courtroom safety because it seems to be for a strategy to return cash to customers.

Jonathan Raa | Nurphoto | Getty Photos

Hackers who stole round $477 million value of cryptocurrency from collapsed change FTX have began to launder the funds into bitcoin.

This month, after FTX filed for chapter, new CEO John Ray III mentioned that “unauthorized entry to sure property has occurred.”

Blockchain analytics firm Elliptic estimates that round $477 million value of cryptocurrency had been stolen from FTX.

The theft provides insult to harm to FTX, a as soon as $32 billion crypto empire who collapse has despatched shockwaves throughout the business.

The stolen cash has been transformed into completely different digital cash however the bulk of it — greater than $280 million — was became the cryptocurrency ether, based on public blockchain data of the account linked to the hackers.

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