In recent updates shared by Spot On Chain, it has been revealed that an address associated with the FTX exploit, known as 0x3e9, has been actively involved in transferring over 10,000 Ether, with an estimated value of approximately $17 million, across five distinct addresses since September 30th.
Remarkably, these addresses had lain dormant for an extended period before the sudden resurgence of activity.
Notably, a significant portion of the aforementioned 10,000-plus Ether, valued at around $13 million, found its way to the THORChain router and Railgun contract.
Additionally, the exploit operator conducted a swap involving 2,500 ETH, equivalent to approximately $4.19 million, converting it into 153.4 tBTC tokens at an average rate of $27,281 per token.
It’s worth recalling that the initial hack on September 30th resulted in losses nearing 50,000 ETH, causing significant concern within the crypto community.
These developments have unfolded amidst the crypto market’s anticipation of the launch of Ethereum futures ETFs scheduled for October 2nd.
READ MORE: New U.S. Bill Proposes Enhanced Oversight for Cryptocurrency Transactions
Looking beyond the exploits and market developments, legal proceedings involving prominent FTX founder Bankman-Fried have garnered attention.
The trial, expected to span six weeks, is set to commence with jury selection on October 3rd, followed by initial court proceedings on October 4th.
Bankman-Fried is facing seven charges related to fraudulent activities, encompassing two substantive charges and five conspiracy charges.
Throughout the legal proceedings, Bankman-Fried has staunchly maintained his innocence, pleading not guilty to all allegations.
Despite numerous attempts to secure temporary release, he remains in custody, with Judge Lewis Kaplan recently denying his most recent request for release due to concerns about the potential flight risk posed by the defendant.
In light of these ongoing developments, the crypto community continues to monitor the evolving situation closely, with both market dynamics and legal outcomes poised to have far-reaching implications.
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