As the criminal trial of FTX founder Sam Bankman-Fried unfolds in a Manhattan courtroom, some observers in the cryptocurrency world have been watching a different FTX-related crime in progress: The still-unidentified thieves who stole more than $400 million out of FTX on the same day that the exchange declared bankruptcy have, after nine months of silence, been busy moving those funds across blockchains in an apparent attempt to cash out their loot while covering their tracks. Blockchain watchers still hope that money trail might help to identify the perpetrator of the heist—and according to one crypto-tracing firm, some clues now suggest that those thieves may have ties to Russia.
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