The post Consultant Protects $500 Million in FTX Hack on Personal Hardware Wallet! appeared first on Coinpedia Fintech News

During the FTX hack last year, consultant Kumanan Ramanathan utilized his personal Ledger Nano hardware wallet to protect between $400 and $500 million of FTX’s cryptocurrency. Ramanathan volunteered to relocate a major portion of the company’s assets to his device after unusual withdrawals signaled vulnerability. The assets were housed on Ramanathan’s device until FTX’s crypto custodian provider, BitGo, had cold storage wallets ready. Subsequently, the exchange collaborated with BitGo, safeguarding over $1.1 billion in total. Recently, the FTX hacker has been making considerable movements of assets by chain-hopping to disguise the origin of stolen funds.