VOT Research Report
Market Analytics and Considerations
- The hacker is changing the cryptocurrency assets in his or her possession to un-freezable equivalents.
- It is requested that no one who is currently using the FTX app install or update it.
Millions of dollars are disappearing from consumer wallets at the FTX bitcoin exchange. In just a few hours, there were about $600 million in strange operations, among which involved switching from Tether to DAI. Furthermore, the drainer is apparently also draining tokens including StETH Solana, BNB, LINK, AVAX, and MATIC. The hacker is transferring his or her cryptocurrency holdings to volatile digital assets like ETH and DAI.
Additionally, a message was sent in the Telegram group by the administrator of the FTX Community Chat channel. stating that the FTX applications were dangerous malware and that the FTX network had been infiltrated.
Update Has Supposedly Begun?
Users were warned that going to the FTX website could lead to Trojans being installed. And that they ought to remove the spyware right away. However, it’s unclear if the administrator has left.
On Nov 12, a sizeable sum of money suddenly transferred from FTX and FTX US accounts into a single wallet. creating suspicions that the bankruptcy process had started. Additionally, it was discovered through the on-chain data and allegations that FTX wallets had been hijacked. Furthermore, insider assistance was used by the exploiters to get access to the device.
Additionally, using the 4byte choice “0x3d24a1ff.” which refers to the format string name hashed as “Rug Pull All.” The delivery of an on-chain message to the user’s account was confirmed by Foobar. Others have speculated that this was an inside job because an upgrade was purportedly launched with the goal of revealing all private keys. It is requested that no one who is currently using the FTX app install or update it.
