The US Department of Justice (DOJ) launched a criminal investigation into the hack that resulted in the theft of about $372 million from FTX-controlled wallets after FTX declared bankruptcy.
According to a Bloomberg report, an insider stated that part of the stolen funds has been successfully frozen by US officials but the frozen assets, however, only make up a small portion of the total hack.
Following the hack last month, FTX US general counsel Ryne Miller posted a statement from John Ray, the new Chief Restructuring Officer, and CEO of FTX, noting the team has been in contact with and is coordinating with law enforcement and relevant regulators regarding the hack situation.
Also Read: FTX Exchange Reportedly suffers Hack Worth over $600 Million
The National Cryptocurrency Enforcement Team of the DOJ is in charge of leading the investigation. The group is collaborating with federal prosecutors in Manhattan who are in charge of the extensive criminal investigation that resulted in Bankman-Fried’s arrest.
Due to the FTX’s cooperation with law enforcement, authorities were able to freeze part of the stolen funds. In other instances, especially with offshore exchanges, that is not the case. The $372 million amount was listed in FTX’s bankruptcy filing.
Sam Bankman-Fried, the founder of FTX, asserted that either a former employee of FTX or someone with unauthorized access to a former employee’s computer was responsible for the event.
Blockchain analytics company Elliptic claimed in a report on the movement of the stolen funds that the tokens taken from FTX wallets were exchanged for RenBTC.
Also Read: FTX EU Clients Can Now Reclaim Funds via Backpack
