Crypto sleuth debunks 3 FTX hack myths

blockchain.news:

On-the-job detective ZachXBT has taken to Twitter to clear up what he calls a «lot of disinformation» about the FTX hack and the individuals who may be responsible for it. He has shared the research he did on what he thinks are the three most common mistakes people make about the breach.

The self-proclaimed «on-chain detective» dispelled many rumours in a long message on Twitter on November 20. Rumours circulated that Bahamian authorities were behind the FTX attack, that exchanges were aware of the hacker's true identity, and that the perpetrator was trading memecoins. On November 11, the same day that FTX filed for bankruptcy, the cryptocurrency community started reporting strange transactions on wallets affiliated with FTX. These transactions included the movement of more than $650 million out of the wallet. The Securities Commission of the Bahamas (SCB) issued a statement on November 17 in which it stated that it had ordered the transfer of all digital assets of FTX to a digital wallet owned by the commission around that time. Some people thought that the SCB was behind the alleged «hack,» even though no one has been officially named as the culprit. However, ZachXBT argued that the 0x59 wallet address associated with the hacker was a blackhat address and was not affiliated with either the FTX team or the SCB because it «began selling tokens for ETH, DAI, and BNB and using a variety of bridges so crypto couldn't be frozen on 11/12.» ZachXBT's reasoning was based on the fact that the address «began selling tokens for ETH, DAI, and BNB and used a »The fact that 0x59 was dumping tokens and bridging sporadically was very different behaviour from the other addresses who withdrew from FTX and instead sent to a multisig on