FTX Hack News: FTX Accounts Drainer Becomes 34th Largest Ethereum Holder

Ashish Kumar
November 16, 2022
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
ETH, WBNB, USDC Stolen As Radiant Capital Suffers $50M Loss

FTX Hack News: FTX, a cryptocurrency exchange witnessed a major hack of around $600 million after facing a liquidity crunch over the past week. However, the FTX Accounts Drainer has been tracked moving Ethereum (ETH) and other digital assets.

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FTX hack drainer accounts moving ETH

PechshieldAlert reported that FTX accounts drainer 10 bridged 2700 Ethereum thoughts Anyswap from BSC to ETH. The account transferred around 2,697.38 ETH (approx worth $3.3 million) to FTX Accounts Drainer 1.

The drainer is regularly sending digital assets from multiple FTX and FTX US wallets.As per data, FTX Accounts Drainer currently holds 235.392k Ethereum (approx worth $209.8 million). This makes the address become the 34th largest holder of Ethereum.

It added that FTX Accounts Drainer 9 bridged 2000 ETH through Anyswap from BSC to ETH. It swapped 2.7 million USDT for 2,173 Ethereum on Cow Protocol. However, the account later transferred 4,171.22 ETH (approx worth $5.1 million) to Account 1. The FTX Accounts Drainer also holds 8.2k PAXG.

However, Drainer’s address on BSC is holding 74K BNB (approx worth $20 million) and 1.68 million DAI. It earlier swapped 34K BNB for 4.5K Ethereum (approx worth $5.5 million) and 3 million BSC to USD and bridged them to ETH.

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SBF leading market collapse

First, FTX triggered a market collapse, and then FTX, the crypto exchange left a big dent in the crypto market. More than $100 billion vanished from the market in a matter of few days. The biggest of the cryptocurrencies Bitcoin price has shed more than 7% in the last 7 days.

Ethereum price fears a massive drop ahead as the Drainer might go for a sell off ahead in order to liquidate assets. ETH prices are down by over 3% in the last 24 hours. It is trading at an average price of $1,219, at the press time. It’s 24 hour trading vol is down by 7% to stand at $11.7 billion.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.