Just an hour ago, in response to Mario Nawfal, Nick Percoco, the CSO of Kraken Exchange, tweeted that the Kraken team now knows the name of the user who hacked FTX.
How It Was Easy for Kraken To Identify
Kraken’s KYC (Know Your Customer) mechanism was enough for the Kraken team to be able to identify the hacker since he used the exchange to dump the stolen funds during the hack.
IBCgroup.io’s founder and CEO, Mario Nawfal, wrote on Twitter that the hacker is very likely an incompetent insider.
We know the identity of the user.
— Nick Percoco (@c7five) November 12, 2022
Read More: FTX Employees Rumored To Be Behind $600M Hack
Community’s Collective Effort
The well-known YouTuber and proponent of cryptocurrencies and NFT, Satoshi Stacker, also commented on the matter, pointing out that the FTX “Hacker” just funded his TRX wallet from Kraken.
The FTX ”Hacker” just funded his TRX wallet from Kraken.
The same wallet that holds the stolen funds.
This means Kraken should have enough information to track down this individual/Individuals together with law.
If it’s Sam this is basically him not caring.
— Satoshi Stacker (@StackerSatoshi) November 12, 2022
Dyma Budorin, the CEO and co-founder of Hacken.io, praised Tobias Silver, the creator of just.money, for his thorough analysis of the FTX Tron accounts.
TLDR: insider is behind @FTX_Official rug pull / exit scam
Great thread that proves to me that #ftx #hack is an insider job:
– too slow
– stupid mistakes
– kraken account involved
– hacker would have acted earlier
Great job @TobiasSilverJM to spot this https://t.co/h0PT8fBD9I
— Dyma Budorin 🇺🇦 (@buda_kyiv) November 12, 2022
Due to the hacker’s incapability, Budorin concluded that some insider is behind (the FTX) rug pull or exit scam.
Read More: Ripple CTO Has This to Say On FTX Being A Ponzi
Kraken and law enforcement will most probably now collaborate in order to track and trace down the identified person.
The FTX Hack Fiasco
Hours after FTX announced its decision to file for voluntary chapter 11 bankruptcy, reports of a $600 million hack surfaced. Sam Bankman-Fried has also resigned from his position as FTX’s CEO prior to the hack. Around 130 additional FTX-affiliated entities are also parties to the proceedings, as per the filing.
Word has it, almost $1 billion in client deposits have gone missing from the bankrupt cryptocurrency exchange FTX, and it’s alleged that Bankman-Fried used a “backdoor” in FTX’s book-keeping system to siphon off money privately.