FTX cryptocurrency theft suspects identified

In early February 2024, US authorities charged three people suspected of stealing more than $400 million (€371 million) from cryptocurrency platform FTX. This eye-popping cyberattack took place on the same day the crypto-asset giant announced its bankruptcy on November 11, 2022.

In November 2023, a New York court found former FTX president Sam Bankman-Fried guilty of fraud, conspiracy and money laundering. Convicted of embezzling funds from his platform, he will be sentenced on March 28, 2024. However, Sam Bankman-Fried is not believed to have been involved in the November 11, 2022 heist.

US authorities have accused two men and a woman living in Chicago, Indianapolis and Colorado Springs of being responsible. The three individuals are said to have visited a number of Apple Stores and mobile operators in around ten US states to carry out a series of SIM-swapping scams.

They allegedly assumed the identities of multiple individuals and obtained new SIM cards by claiming to have lost their smartphones. Once they had access to these numbers, they were able to steal funds ranging from $15,000 to $1 million (€14,000 to €930,000), excluding FTX. It was a SIM card swap that gave them access to the crypto-asset platform to steal the $400 million, although the indictment does not specify how.

In December 2023, former FTX employees told Wired about that memorable day on November 11, 2022. The cybercriminals were preparing to steal over $1 billion (€930 million). But the platform’s teams managed to get ahead of them and save more than half of this sum by transferring it to a cold wallet.