Paxos has successfully recovered $20 million of Paxos Gold (PAXG) stored in an attacker’s wallet. which was hacked FTX in November
At the time, FTX had stolen $400 million after filing for Chapter 11 bankruptcy protection last month. Among the stolen assets was Paxos Gold (PAXG), a physical gold-backed token in Paxos custody.
Paxos suspended 11,184 Paxos Gold (PAXG), $20 Million Fast From 4 Hacker-Controlled Wallets And now about six weeks later The team has recovered all assets.
Paxos proceeded to move the stolen tokens from a wallet address labeled “FTX Accounts Drainer” by Etherscan to an empty wallet address and burn it whole. According to security company PeckShield specified with reference to informationon the network and after that mint the same amount into another wallet. It is the end of the money recovery process.
Still, Paxos’ recovery represents only the tip of the iceberg. Since FTX’s stolen wallet is currently stillhave$302 million in Ether alone, which was FTX’s reserves, and almost all of it, was sold in exchange for Bitcoin and could not be recovered.
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