At current market prices, the transfer of Ethereum from the exploiter is estimated at about $288 million.

The hacker who hacked the bankrupt FTX exchange last week made a fortune by investing in Ethereum.
Ethereum

way down
$1114

whale situation.

Just a day after FTX filed for Chapter 11 bankruptcy, their wallets were depleted of more than $663 million in various crypto assets, according to blockchain analytics firm Elliptic.

Elliptic suspected that $477 million of these were stolen, and although most of these tokens were later converted to ETH, it was believed that various tokens worth more than $186 million were moved to the secure vault of FTX itself.

As Cointelegraph reported on Nov. 15, four days later, the attacker continued to empty wallets in what analysts are calling “network spoofing.”

According to blockchain security company Beosin, the attacker processed several exchanges and cross-chain transactions over the past day and currently owns about $338 million worth of crypto assets as of November 15.

According to the wallet address, it includes 228,523 ETH, worth about $288.8 million at current market prices.

This makes the so-called “FTX account leaker” the 35th largest holder of Ethereum in terms of ETH.

According to CoinCarp’s Ethereum Rich List, the top holder is a Beacon Chain deposit contract worth about 15 million ETH. In addition, most of the top 20 are crypto exchanges, layer 2 protocols, and decentralized finance (DeFi) bridges.

The top 20 ETH wallets account for 27.7% of the total circulating supply, and the top 50 wallets account for a third of all ETH.

The exploits have occurred on both FTX and FTX.US, leading many to speculate that this could be an insider business. Hugh Brooks, director of security at the analytics firm Certik, has cited evidence online showing this. On Nov. 15, he told Cointelegraph that an insider with access to these wallets and moving funds cannot be ignored unless there is consensus on the private key.

Related: FTX Bankruptcy Freezes Millions of Crypto Company Funds

Ether prices were not affected by the possible dumping of the 35th largest holder, which flooded the markets.

According to CoinGecko, ETH was trading sideways at $1,260 intraday at the time of writing. The asset has lost about 23% since the start of the FTX debacle.

Source: CoinTelegraph

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