FTX Hack Perpetrator’s Wallet Shows Recent Activity
Almost a year after the FTX hack that resulted in the theft of $600 million worth of tokens, recent on-chain data reveals activity in the wallet of the perpetrator, known as 0x3e957. This comes at a time when an Ethereum-based ETF is set to launch in the United States.
Wallet Contains $16.75 Million of Ether
Spot On Chain, a platform that analyzes on-chain data, reports that the exploiter has recently activated their address after a long period of inactivity. Currently, the wallet holds a substantial sum of $16.75 million worth of Ether (ETH).
Exploiter Moves ETH to New Addresses
In a recent development, the exploiter moved 2,500 ETH (worth $4.2 million) to new addresses. This is the first time the address has been active since the hack 10 months ago. However, the address still retains 12.5K ETH.
Potential Impact on ETH Price and Investors
Transfers like this are often associated with selling activity, which could potentially impact the price of ETH and affect smaller investors. It is worth noting that with the imminent launch of Ethereum exchange-traded funds (ETFs) in the United States, the price of ETH may enter a bullish trend.
Approval for Ethereum ETFs Awaited
Several companies are awaiting approval from the U.S. Securities and Exchange Commission (SEC) for up to nine ETF products. The SEC may grant accelerated approval for these products on October 2.
Hot Take: Recent Activity in FTX Hack Perpetrator’s Wallet Raises Concerns
The recent activity in the wallet of the FTX hack perpetrator, 0x3e957, has raised concerns in the crypto community. With a significant sum of $16.75 million worth of Ether (ETH) in their possession, the exploiter’s movements could potentially impact the price of ETH and affect smaller investors. Furthermore, the launch of Ethereum-based ETFs in the United States adds another dimension to the situation. As companies await approval from the SEC for these ETF products, it remains to be seen how this ongoing saga will unfold and its implications for the wider crypto market.
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