An Address Associated with FTX Exploiter Becomes Active
According to an on-chain report, an address linked to the FTX exploiter has become active after 10 months of inactivity. On Saturday, 5,000 ETH (equivalent to $8.2 million) was transferred from the flagged address (0x3e9) to new addresses. However, it has now been revealed that the exploiter has moved over $17 million worth of Ether tokens in the past 24 hours, according to blockchain data tracker Spot On Chain.
FTX Exploiter Continues to Move Stolen Funds
The now-defunct FTX exchange experienced a hack shortly after declaring bankruptcy, resulting in a loss of more than $600 million. The exploiter has been moving large amounts of their stolen funds recently. So far, they have transferred a total of 10,250 ETH (worth approximately $17.2 million) across five addresses. A significant portion of this amount, 7,749 ETH (around $13 million), was sent to the Thorchain router and Railgun contract, which are known for their privacy features.
Swap Transactions and Speculations
The FTX exploiter has also conducted swap transactions involving 2,500 ETH (worth about $4.19 million). These funds were converted into 153.4 tBTC at an average price of $27,281. Speculations have arisen regarding the exploiter’s intentions with these tokens. Some believe that they might be planning to sell their tokens if the price of ETH rallies after the approval of Ether futures ETFs in the US.
Ethereum Price Update
In September, Ethereum struggled but ended the month on a positive note with a strong performance. In October, the cryptocurrency has continued to rise, approaching the $1,700 level with a 0.6% increase in the past day. Over the past week, ETH has seen a nearly 6% jump in value, indicating signs of recovery. Despite a decline in daily trading volume by nearly 4%, Ethereum remains the second-largest cryptocurrency with a market cap exceeding $200 billion.
Hot Take: FTX Exploiter Continues to Move Stolen Funds
The FTX exploiter, responsible for one of the largest hacks in the crypto space, has been actively moving stolen funds. With over $17 million worth of Ether tokens transferred in the past 24 hours, it is clear that the exploiter is taking advantage of their ill-gotten gains. The destination addresses and swap transactions suggest that they are trying to maintain privacy and potentially profit from future price rallies. As Ethereum continues its recovery and approaches key levels, it remains to be seen what impact this ongoing movement of stolen funds will have on the market.
Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding. A guiding star for both audacious explorers and curious neophytes journeying through the crypto galaxy, Newt’s insights forge a compass for insightful decision-making amidst the ever-evolving universe of digital assets. With the precision of a wordsmith, they craft a narrative that enriches the evolving chronicle of the crypto cosmos.