FTX Hacker Swaps 29.7k BNB; Becomes 31st Largest Eth Holder

FTX hacker swaps 29.7k BNB, after FTX, a cryptocurrency exchange faces a massive hit of a $600 million hack on Friday. Amid the ongoing liquidity crisis as per today’s report, the FTX hacker becomes the 31st largest Eth holder.

According to the report FTX general counsel, Ryne Miller in a statement confirms the exchange has been hacked on November 11th. After the insolvency, The hacker sends digital assets from multiple FTX and FTX US wallets on a regular basis.

FTX hackers hit ranks 31st in terms of ETh holding

As per today’s Arkhamintel tweet, the FTX hacker exchanged 29,752 BNB for 5,000,000 USDT and 2,001 eth on BSC. On the ETH mainnet, this was exchanged for a total of 6,079 Ether. Currently, the hacker account 0x59 holds 241,471 ETH. After this exchange, the hacker becomes the 31st largest Eth holder.

The attack took place on the same day that FTX filed for bankruptcy. He also used the stolen funds to trade on decentralised markets such as 1 inch, CowSwap, and UniSwap. However, according to Arkham forensic analysis, the hacker lost a significant portion of the stolen money while attempting to move it through various channels. The attacker attempted to conceal their tracks by moving the assets to other chains.

After effect of FTX collapse

FTX’s recent collapse marks a massive dent in the market. The Bitcoin price dropped by more than 7% in the last 7 days. The Ethereum price is expecting a massive drop because the Drainer may go for a sell-off in order to liquidate assets. The potential unloading of Ether’s 31st-largest holding has had no effect on pricing. At the time of writing, ETH was trading at $1,260, unchanged for the day.