Hundreds of millions of dollars are now flowing out of FTX wallets, some speculate liquidators but it's late on a friday night, not typical times for such rapid heavy movements. Some withdrawals are being swapped from Tether to DAI. Hack or insider actions? $26 million here

After swapping USDT for DAI (more censorship-resistant?), they just swapped $44 million of stETH for ETH, eating huge slippage. This is super sketchy, no liquidator would be taking actions like this

somebody sent an onchain message to the recipient account with 4byte selector `0x3d24a1ff`, which is the hash of function name "Rug Pull All"

great stuff

Here's the debank profile to get a birdseye view of all the assets:

Love my followers, this site is worth $8

Also getting hit hard on the Solana side, $90 million flowing into a fresh wallet there

Thousands of Wormhole ETH is getting bridged from Solana into the Ethereum wallet now

They're now using a second address for the shitcoins

smaller in number but the withdrawals continue flowing

General counsel @_Ryne_Miller says he doesn't know why the funds are moving. If part of a liquidation order, he would definitely be clued in. Must be malicious, the question is then whether it's an inside or outside job. Not great

@_Ryne_Miller App update confirmed, likely malicious to seek root access to further private keys. Delete it asap. Don't touch the website. Probably a compromised dev account.

@_Ryne_Miller FTX just pinned this message in their main telegram chat

@_Ryne_Miller Now funds are being pooled in a multisig at 0x97f991971a37D4Ca58064e6a98FC563F03A71E5c

@_Ryne_Miller Fun fact: FTX appointed the Enron liquidator as the CEO replacement for SBF

Another fun fact: "built by traders, for traders" was the tagline for both companies

@_Ryne_Miller Don't worry, sam has the whole thing under control

Sat Nov 12 05:40:35 +0000 2022