Cryptocurrency exchange FTX came up with a hack after the collapse. After a rather dubious attack, $400 million worth of altcoin tokens were stolen from the exchange. The hacker then performed multiple swaps and transfers between various accounts. Currently, the FTX hacker has 74,000 BNB, 1.68 million DAI and 235 thousand ETH.
FTX hacker is the 34th largest Ethereum holder
The hacker behind the FTX hack has ten different accounts identified. The hacker kept the stolen altcoin tokens in motion and made multiple exchanges between various protocols. After multiple swaps, the account currently has balances in various assets, including 74k BNB ($20 million), 1.68 million DAI and 235 thousand ETH ($209 million). Its ETH position makes it the 34th largest Ethereum whale.
Blockchain security platform Peck Shield recently brought attention to the hacker’s latest swaps. The wallet, identified as FTX Accounts Drainer 10, has bridged up to 2,697 ETH from the BSC to the Ethereum network in a series of eight irregular transactions using the AnySwap protocol. Immediately after the successful bridge, FTX Accounts Drainer 10 transferred 2,697 ETH to FTX Accounts Drainer. After the transfer, the wallet identified as FTX Accounts Drainer, the primary account of the hacker, currently holds approximately 235,392 ETH according to Etherscan data.
Is the hacker planning a pump-dump on these altcoin projects?
Prior to the swap involving FTX Accounts Drainer 10, the address identified as FTX Accounts Drainer 9 bridged 1,998 ETH from BSC to Ethereum in six transactions using AnySwap. The address also exchanged $2.7 million worth of USDT for 2,173 ETH on the Cow Protocol. After bridging and swaps, FTX Accounts Drainer 9 transferred the balance of 4,171 ETH to FTX Accounts Drainer. This contributed 235.3 ETH ($286.7 million) of the primary account. Additionally, the primary account holds 8,184 PAXGs worth $14.5 million. This brings their total assets to $301.2 million in ETH and PAXG.
Additionally, FTX Accounts Drainer’s wallet on Binance Smart Chain (BSC) currently holds 74,000 BNB worth $20.2 million and DAI worth $1.68 million. Later, the account exchanged 34,498 BNB for $4,500 ETH worth $5.5 million and BUSD worth $3 million. Then it bridged assets to Ethereum.
The bartering and bridging series sparked a backlash within the community. Some people claimed that the hacker wanted to engage in a sophisticated ‘pump-dump’ scheme by dumping ETH held for another asset. However, not much is known about the hacker’s intentions at the time of reporting. Meanwhile, there were 21,155 ETH movements from three different accounts associated with the hacker to their main account on Tuesday. These transfers followed a swap on Saturday that included the sale of 400B SHIB for 2,346 ETH.
How did the FTX hack happen?
As you follow on Kriptokoin.com, the FTX hacker emptied the stock market during the company’s collapse last Friday. In the attack, the hacker took away nearly $400 million in multiple assets. Reports have revealed that the attack was likely an ‘inside’ insider.
Following the hack, blockchain company Paxos froze 11,184 PAXGs, worth approximately $19 million, associated with the attack. According to an official announcement, Paxos announced that it is freezing assets due to a directive from the US authorities. Arkham Intelligence reported Monday that the hacker still holds $339 million in multiple assets.
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