The Securities and Futures Commission of Hong Kong has raised concerns over activities with two crypto entities.
A hacker reportedly targeting FTX has drained over $450 million worth of crypto assets shortly after the exchange had filed for bankruptcy. This attack took place four days after the proverbial alarm went off for the first hack.
According to crypto analytics firm Certik, the hacker has continued to pull assets from the exchange, taking funds from wallets associated with both the US-based and intention divisions of FTX. Currently, the wallet the hacker is sending funds to is holding over $62 million in crypto assets.
Multiple @FTX_Official addresses, both US and international, are continuing to send assets to FTX Drainer Address 0x59A…
Currently, FTX Drainer Address 0x59A… holds approximately ~$62M in assets. pic.twitter.com/LUIkoWYv4A
— CertiK Alert (@CertiKAlert) November 15, 2022
Over the course of the past four days, the hacker has received and traded meme tokens, sending almost 75% of them to other addresses.
FTX Token delisted on popular exchanges
This hack comes amidst a flurry of cryptocurrency exchanges looking to sever ties with FTX’s native token. Since the outbreak of news related to FTX and Sam Bankman-Fried, platforms including Binance, BitMEX, Zipmex, and KuCoin have announced that they will no longer be listing FTT pairings on their trading exchanges.
At #Binance we conduct regular reviews of listed assets to ensure they meet our standards to protect our users.
Based on our recent reviews, we will remove and cease trading of several $FTT trading pairs on 2022-11-15 04:30 (UTC):
— Binance (@binance) November 14, 2022
Most exchanges have cut the ability to trade FTT with others, but have kept withdrawals open to exchange the token for fiat for the mean time to allow users to move their tokens around first. Buying FTT and trading other crypto for the token, however, has been ceased to “protect users” – as Binance was urged to do by popular crypto analyst Cevo.