According to an on-chain report on Saturday, September 30, an address linked to the FTX exploiter became active for the first time in 10 months. like I mentioned earlierAbout 5,000 Ethereum (equivalent to $8.2 million) were transferred from the flagged address (identified as 0x3e9) to new addresses on Saturday.
However, in the latest development, blockchain data tracking site Spot On Chain revealed that an FTX scalper has transferred over $17 million worth of Ether tokens in the past 24 hours.
FTX exploiter to continue moving stolen funds, Spot On Chain speculates
In one of the most high-profile exploits in the cryptocurrency space, the now-defunct FTX exchange fell victim to a hack just hours after declaring bankruptcy, resulting in a loss of more than $600 million.
according to Revelation on the chain, the scalper has transferred large amounts of his spoils in the past 24 hours. The transferred funds amounted to a total of 10,250 ETH (worth approximately $17.2 million), distributed across five addresses.
Spot On Chain analysis shows that a significant amount of 7,749 ETH (equivalent to approximately $13 million) was transferred to the Thorchain router and Railgun nodes. These two decentralized finance (DeFi) protocols are known for their privacy-focused features.
Over the past day, an FTX scalper executed swap transactions involving 2,500 ETH (worth approximately $4.19 million). These funds were converted into 153.4 tBTC (ERC-20 token standard for Bitcoin) at an average price of $27,281.
FTX Exploiter 0x3e9 has transferred a total of 10,250 $ Ethereum ($17.1 million) across 5 addresses during the past 24 hours:
– Send 7749 $ Ethereum ($13 million) for the Thorchain and Railgun router contract
– Exchange 2500 $ Ethereum ($4.19 million) to 153.4 $tBTC At $27,281 on average
It is worth noting that the title… https://t.co/xzmDz8Vmma pic.twitter.com/4Ykp0zih6G
– Spot on Chain (@spotonchain) October 1, 2023
The recent movement of funds by the attacker is believed to have been caused by the highly likely approval of Ethereum futures ETFs in the US. However, there has been no concrete evidence to support these links.
it was there Speculation that the scalper may be looking to get rid of him The price of ETH should rise after futures ETFs are given the green light.
In any case, onlookers will likely be keeping an eye on the address’s activity, especially after Spot On Chain suggested that the exploiter may continue to move ETH.
Ethereum price overview
Ethereum price showed good strength until the end of September after struggling largely throughout the month. The cryptocurrency had a positive start to October, approaching the psychological level of $1,700 with a 0.6% rise in the past day.
The value of ETH has jumped nearly 6% in the past week, reflecting positive signs of recovery. According to data from CoinGecko, the cryptocurrency saw a roughly 4% drop in daily trading volume, which represents a recent decline in market activity.
However, Ethereum remains the second largest cryptocurrency, with a market capitalization exceeding $200 billion.
ETHUSDT approaching $1,700 mark on the daily timeframe | Source: ETHUSDT chart on TradingView
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