Chainalysis, a company that specializes in blockchain security and analytics, made the revelation on November 20 that the hacker had successfully bridged the funds and may now attempt to use various cryptocurrency exchanges to remove their stolen assets from the blockchain.

On Sunday, the company tweeted the following:

"Funds that were stolen from FTX are currently in motion, and exchanges should be on high alert to freeze them in the event that the hacker attempts to cash out."

The official FTX Twitter account also made a reference to the Chainalysis report, noting that the hacker was attempting to conceal the movement of the funds by using intermediate wallets. This information was included in the tweet.

Chainalysis further pointed out that the assertion that the stolen FTX monies were not transferred into an account that was controlled by the government of the Bahamas was not completely accurate.

It is not true, despite what has been reported, that the money that were taken from FTX were really remitted to the Securities Commission of The Bahamas. Some of the cash were misappropriated, while others were handed up to the authorities.

According to Chainalysis, the hacker may be looking to mix the funds, which suggests the thief may be attempting to make it more difficult to trace the stolen money.

According to the findings of the cryptocurrency analyst KamikazETH, the hacker has already dumped approximately $15 million worth of ETH tokens and was planning to dump an additional $12 million worth of tokens early Sunday afternoon. According to the findings of the crypto sleuth, the thief was attempting to cash out by first using Wrapped BTC and then renBTC.

At the time this report was written, the primary wallet that had been used in the theft still contained 270 million dollars of the stolen goods.