Arkham Intel has reported that the FTX hacker has initiated the movement of approximately $8 million in Ethereum (ETH).

This movement marks the first time that the FTX hacker, who currently holds a stash exceeding $300 million in digital assets, made any transactions since the breach.

Arkham's findings indicate that the funds have been relocated through the utilisation of the smart contract system RailGun (RAIL) and the decentralised exchange protocol Thorchain (RUNE).

Identified by Arkham simply as "FTX Exploiter," the wallet is currently in possession of $1.7 million worth of Dai (DAI), $3.97 million worth of Tether (USDT), $30,000 worth of USDC, alongside $43,000 worth of Binance Coin (BNB), $42,000 worth of Bitcoin (BTC), and $8,500 worth of Wrapped Bitcoin (wBTC).

FTX Hacking Incident

Back in November 2022, coinciding with the crypto exchange's declaration of bankruptcy, FTX disclosed that it had fallen victim to a hacking incident, resulting in losses amounting to $383 million.

The hacker had consolidated the stolen assets into Ethereum, consequently becoming one of the world's largest Ethereum holders.

The wallet, known as "FTX Accounts Drainer" on Etherscan, achieved the rank of the 35th-largest Ethereum holder globally during that period.