On November 20, 2022, Chainalysis declared on Twitter that it wanted to encourage exchanges to freeze these currencies.
According to information from the blockchain research firm Chainalysis, money stolen from the FTX cryptocurrency exchange has been converted from ETH to Bitcoin, as reported by Cointelegraph.
In order to discourage thieves from converting these currencies into fiat currency or further concealing the assets through other ways, Chainalysis encouraged exchanges to freeze these coins on Twitter on November 20, 2022, according to Cointelegraph. It’s thought that an unidentified perpetrator took 228,523 ETH from the exchange. According to reports, the thief is one of the biggest ETH owners in the world thanks to ownership of the coins, which are currently valued $268,057,479 USD.
“It is untrue that the money taken from FTX was really sent to the Bahamas Securities Commission. Some money was taken, and some money was given to the authorities, according to Chainalysis’ statement.
Approximately 31,000 ETH has been turned into wrapped BTC, according to data from Cointelegraph. The final total reached 2,444.55 BTC after the coins were moved cross-chain to a Bitcoin main net wallet via the Ren protocol. It is said that people connected to FTX and its affiliated businesses experienced some difficult times.
Additionally, according to Cointelegraph, FTX creator Sam Bankman-Fried resides “under supervision” in the Bahamas. Some reportedly continue to worry that Bankman-Fried would try to leave to Dubai if given the chance. Given that the UAE and the USA have a deal on evidence sharing, judicial cooperation, and assistance with criminal investigations and prosecutions, there are still questions about how the situation will turn out.
