A hacker behind unauthorized FTX crypto withdrawals has been identified, rival exchange Kraken says

Bankrupt digital asset exchange is conducting an investigation with law enforcement into a series of unauthorized withdrawals that hit some of its crypto wallets on Saturday. , an executive said.

Ryne Miller, general counsel for the US exchange FTX, tweeted a statement attributed to the company’s new chief executive John J. Ray that once an unauthorized withdrawal was discovered, “a Positive and mitigating fact checks were initiated immediately in response.”

“We have contacted and are coordinating with law enforcement and relevant regulators,” he added.

Rival crypto exchange Kraken said it would assist with the investigation. The withdrawal perpetrator transferred some funds from a Kraken account to a wallet containing some of the stolen tokens on Saturday, blockchain security firm said, citing transaction data. Kraken was then able to identify the attacker by checking its platform for data on the original address, security chief Nick Percoco said in a tweet.

Miller said earlier in a tweet that FTX has begun moving some of its assets to offline wallets after filing for bankruptcy on Friday. It then expedited those moves “to minimize the damage from observing unauthorized transactions,” he added. Millstone reach out to Percoco Twitter to ask if the two could work together.

A Kraken spokesperson said: “We can confirm that our team knows the identity of the account involved in the ongoing FTX hack, and we are committed to working with law enforcement to make sure they have everything they need to fully investigate this matter.” message Bloomberg News.

The attacker “rapidly converted” some of the stablecoins and tokens obtained from the heist into Ether, blockchain analytics firm Elliptic said earlier on Saturday, using decentralized exchanges. It values ​​the pile of stolen assets at more than $400 million.

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