Ethereum
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The unknown person behind the suspicious withdrawals from the FTX cryptocurrency exchange transferred over $200 million worth of Ethereum to 12 different wallets.
Transactions began on November 21 at about 18:00 Kyiv time. Within six minutes, the so-called FTX Drainer made 12 withdrawals of 15,000 ETH to various wallets. After that, the funds did not move anywhere.
According to Avi Felman, head of digital asset trading at GoldenTree Asset Management, the attacker could be preparing to sell assets.
Hacker moving all his ETH right now in 15k lots, seems likely he is getting ready to sell pic.twitter.com/TXjpaG7i6f
— Avi (@AviFelman) November 21, 2022
However, Larry Cermak, vice president of research at The Block, believes that it will not be easy to realize the withdrawn assets.
“There is almost no liquidity left to exchange ether for renBTC. In addition, such a transaction will entail slippage. [цены] about 70%,” he said.
In addition, the bridge used to send renBTC to the bitcoin network is currently disabled. An exchange for stablecoins on the Ethereum network, in turn, will lead to an immediate asset freeze by law enforcement agencies.
Recent transactions have lowered the FTX Drainer wallet in the ranking of large Ether holders – it is now at 36th place.
Recall that on the morning of November 12, an unknown person withdrew more than $400 million from FTX accounts to third-party addresses. Part of the funds was blocked by Tether.
Subsequently, FTX Drainer made a series of swaps on Ethereum. He transferred another 50,000 ETH to renBTC and connected the assets to the cross-chain bridge for transfer to the main network.
Kraken security director Nick Percoco wrote that the team knew the identity of the user, but it was not publicly disclosed.
Read more about the collapse of FTX and its impact on the crypto industry in a special ForkLog article.
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