Thief Launders $470 Million in Stolen FTX Crypto During Bankman-Fried Trial

A thief stole over $470 million in cryptocurrency from FTX when it collapsed and is trying to cash it out during founder Sam Bankman-Fried's fraud trial.

The thief has been slowly laundering the stolen crypto, sending around $20 million per day to be converted into traditional money.

Analysis shows the thief is using cryptocurrency mixing services to hide the illicit source of the funds.

After lying dormant for months, the thief suddenly became active again right before Bankman-Fried's high-profile trial started.

Some of the laundered crypto has links to Russian cybercrime groups, suggesting the thief may have connections to Russian brokers.