The FTX hacker made a series of transfers with the altcoins in his basket. The primary account associated with the FTX hack, FTX Accounts Drainer, currently holds 250,735 ETH worth $302.6 million. Also, according to data provided by Etherscan, the wallet address is the 27th largest Ethereum whale.
The hacker makes transactions with the altcoins he owns
Blockchain security company Peck Shield announced a new development on its Twitter account. The surveillance platform is posting to keep the crypto community aware of the movement of altcoins. The account tracks transfers made by multiple accounts associated with the hacker.
#PeckShieldAlert FTX Accounts Drainer 1 currently holds 250,735.1 $ETH (~$302.6M) & makes the address become the 27th largest holder of $ETH pic.twitter.com/YnEY6HPsLY
— PeckShieldAlert (@PeckShieldAlert) November 19, 2022
As we have reported as Kriptokoin.com; More than 11 wallet addresses associated with FTX Accounts Drainer have been identified. All these utility wallets are trading. It is also stated that owned altcoins are sent to the primary address. As a result of these transactions, the ETH holdings of the primary wallet increased significantly. The latest entry contained 9,263 ETH worth $11 million from an unidentified wallet.
Owns this altcoin other than ETH
Besides ETH, the hacker has 8,184 Paxos Gold (PAXG) worth $14.2 million. It is stated that the total assets of the account are just over $317.8 million on the Ethereum network. Multiple reports say the loss from the FTX hack is an estimated $400 million.
At the same time, on Binance Smart Chain (BSC), the FTX Accounts Drainer wallet currently holds about 190.5 BNB. The BSC value found is reported to be 51.2 thousand dollars. With all this, the wallet address currently holds $1.6 million worth of DAI stablecoins. The community witnessed numerous transactions involving the conversion of up to 44,235 BNB to 3,000 ETH and $5 million worth of stablecoins.
As a result, stablecoins worth $5 million were exchanged for 6,200k ETH. All over 9,200 ETH resulting from the transactions were transferred to the primary address on the Ethereum network.
Market watchers think altcoins are trying to manipulate the market
The purpose of this behavior is little known. However, some market watchers claim that the hacker plans to manipulate altcoins and the market with his ETHs. The identity of the hacker has remained unknown since the attack. It is generally suggested that Bahamian authorities planned this move in an attempt to confiscate assets in the FTX bankruptcy. However, reports emerged that the move was planned.
On Friday, the Bahamas Securities Commission announced that they are controlling FTX funds for “holding” purposes. Following the announcement, it is stated that they used jurisdiction to transfer a cryptocurrency to a wallet address. The commission, which took responsibility for the movement, released an official statement on its Twitter account. Reuters also drew attention to the statement from the Commission.
Securities Commission of The Bahamas Assumes Control of Assets of FTX Digital Markets Ltd. pic.twitter.com/IzW4PGZSJm
— Securities Commission of The Bahamas (@SCBgov_bs) November 18, 2022
It was also announced by the commission that in the coming days or weeks, the interests of the affected stakeholders, creditors and customers will be decided. Following the decisions, it is possible to determine the issues that need to be taken for the victim. As a result, he noted that they plan to involve other authorities in multiple jurisdictions.
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