On the eve of the FTX case, it was announced that approximately $8 million worth of ETH was transferred to BTC. The transfer was carried out using the decentralized exchange Thorchain.
According to PeckShieldAlert, an individual associated with the FTX hack allegedly transferred approximately $8 million worth of Ethereum (ETH) to Bitcoin (BTC). This transfer was made using Thorchain, a decentralized exchange that enables cross-chain swaps that allowed the hacker to convert ETH holdings into BTC.
Shortly after the attack, blockchain experts suggested that the hacker showed signs of panic, hastily moving and converting tokens in an attempt to avoid detection and suffer significant losses in the process.
Why now?
On the other hand, it was speculated that the potential Ethereum ETF launch in the US triggered the decision to move cryptocurrencies. At the same time, it was reminded that the trial date of former FTX founder Sam Bankman-Fried is approaching.
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