FTX Hacker Turns into One Of Largest Ethereum Whales After Flurry of BNB and DAI Swaps: On-Chain Information

The entity that moved funds out of crypto trade FTX’s wallets final week has been swapping its cash to build up ETH, making it one of many largest Ethereum whales in existence.

On Friday, FTX’s common counsel Ryne Miller launched a press release on the corporate’s Telegram channel, saying the trade had been hacked.

On-chain knowledge revealed that almost $400 million in crypto was moved out of the trade’s wallets and into unknown Ethereum addresses. Now, it seems the entity that took the funds has been swapping the cash into ETH.

Blockchain safety agency PeckShield reported a collection of elaborate swaps initiated by the alleged hacker.

7,420 BNB for 1,500 ETH
1,000,000 DAI for 611.15 ETH, plus 10,000 BNB to 1,979.5 ETH
3,500 BNB for 962,071.43 BSC-USD
10,270,000 DAI for 7,959.04 ETH

During the last a number of hours, the entity seems to have consolidated virtually all of its funds into ETH. The handle presently has over 228,523.8 ETH price about $289,585,402 at at present’s costs.

In keeping with Etherscan, the entity nonetheless has about $14 million in PAXGold (PAXG), a token issued by Paxos that goals to remain pegged to the worth of 1 ounce of gold. Paxos introduced that it had frozen the PAXG associated to the FTX hacker, which is seems to be why the gold-pegged tokens nonetheless sit within the entity’s pockets.

At time of writing, the account labeled “FTX Accounts Drainer” on Etherscan is now the thirty fifth largest Ethereum whale on the planet.

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