Elliptic Links FTX’s $400 Million Loss to Russian Syndicates

Stolen assets worth an estimated $400 million from the now-defunct FTX crypto exchange have potentially been traced back to Russia-based cybercriminal groups. This revelation comes from a detailed analysis by Elliptic, a leading research firm. Five days after the theft, a significant portion, 65,000 ETH (equivalent to $100 million), was moved to the Bitcoin blockchain.