FTX hacker switches funds to ETH and now has one of the richest addresses

The alleged FTX hacker's movements were detected four days after withdrawing USD 600 million from the exchange.

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The alleged hacker who stole USD 600 million from the FTX exchange four days ago moved some funds on Tuesday morning, November 15. According to blockchain data, the entity in question switched a portion of the money to ether (ETH), making it one of the largest Ethereum whales today.

According to blockchain explorer Etherscan, the alleged hacker transferred just over 21,555 ether (ETH) to an address and later converted it to the DAI stablecoin on the CowSwap exchange.

Adding to that, according to the PeckShieldAlert scanner, through other transactions he accumulated 48 million DAI which he later exchanged for 37,570 ETH.

Thus, the FTX hacked account drainer now owns 228,524 ETH, equivalent to almost USD 290 million. This is indicated by explorers PeckShieldAlert and Coincarp, estimating that such a figure makes him the 35th richest address in the cryptocurrency.

In 4th and 5th place in the list of addresses with the most ethers are the exchanges Binance and Kraken. They hold almost 2 million ETH (USD 2.5 billion) each, positioning them as the ones with the most holdings in the cryptocurrency on the Ethereum market.

This comes four days after FTX’s CEO announced on Friday, November 11, that they had had a USD 600 million hack. Such event affected confidence in the cryptocurrency market, adding to the exchange’s liquidity crisis that left its users unable to withdraw their balances.

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