The pilfered crypto is on the move!
that a cool $447 million had been stolen during the cacophony.
Indeed, it was the swift transfer of large sums of crypto into offline storage in what the firm called "" that alerted FTX users to the potential for a crash, and as the financial broadcaster notes, those fears were confirmed once it became clear that the exchange had been infiltrated. The majority of the stolen crypto, some $280 million worth, was initially converted to ether, the currency on the Ethereum blockchain. Now, as Elliptic co-founder Tom Robinson tells, that ether is being converted to Bitcoin via a "bridge" currency that is used "in the laundering of crypto thefts." Thus far, about $74 million has been laundered into BTC.
Bankman-Fried seemed to implicate an unnamed and disgruntled "ex-employee" — or a compromised computer belonging to an ex-employee — in a
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