Crypto sleuth debunks 3 FTX hack myths

ZachXBT shares his findings on what he sees as the three most common misconceptions about the FTX hack. The self-proclaimed "on-chain sleuth" debunked speculation that Bahamian officials were behind the hack, that exchanges knew the hacker's true identity, and that the culprit is trading memecoins. FTX filed for bankruptcy Nov. 11, with more than $650 million transferred off the wallet. ZachXBT argues that the 0x59 address associated with the hacker was a blackhat and not affiliated with the FTX team or the Securities Commission of the Bahamas (SCB). He also highlights the potential misinformation surrounding the claim the hacker's identity had been discovered by Kraken or other exchanges. Instead, he claims the transfers have been "spoofed" on the Etherscan network, explaining how transactions can be faked. (Read More)
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