FTX Hacker Moves 5,000 ETH: First Transfer Since Hack
About a year after the massive hack that resulted in the loss of over $600 million, the FTX hacker has made a move. The hacker has transferred 5,000 ETH, equivalent to more than $8.2 million, from their wallet address. This marks the first time that assets have been moved out of the hacker’s wallet since the exploit.
Spot On Chain Analyzes the Transfers
According to Spot On Chain, an on-chain analytics platform, the FTX exploiter conducted two transactions. In each transaction, 2,500 ETH was transferred to separate wallets. The time gap between these two transactions was two hours.
Implications of the Transfers
The recent token transfers by the FTX hacker suggest a potential sell action. It is possible that the hacker intends to profit from a potential surge in ETH price due to the launch of an Ether futures ETF. This selling action is often seen among crypto whales and can lead to a bearish trend that may negatively impact small traders.
Impact on ETH Price
The launch of an Ether futures ETF is expected to have a significant positive effect on ETH price movement. Previous positive news about this investment fund has already caused a 4% increase in Ethereum’s price within just two days. However, it remains to be seen how the FTX hacker’s transfers will affect market dynamics.
Ethereum’s Current Status
At present, ETH is trading at $1,677 with a 5.77% gain in the last day. The daily trading volume for Ethereum has decreased by 44.35% and is valued at $3.8 billion.
Hot Take: FTX Hacker’s Transfers Raise Concerns
The recent transfers by the FTX hacker have raised concerns about their intentions and the potential impact on ETH price. As the launch of an Ether futures ETF approaches, traders should closely monitor market developments to mitigate any risks associated with the hacker’s actions.
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