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FTX Hacker Becomes One of Biggest Ethereum Whales After Flurry of BNB and DAI Swaps: On-Chain Data

FTX Hacker Becomes One of Biggest Ethereum Whales After Flurry of BNB and DAI Swaps: On-Chain Data

The company that pulled funds from the crypto exchange’s FTX wallets last week has traded its coins to accumulate ETH, making it one of the giant Ethereum whales. On Friday, FTX General Counsel Ryne Miller stated that the company’s Telegram Channel is saying the exchange had been hacked. On-chain data showed that nearly $400 million worth of crypto was moved from the exchange’s wallets to undisclosed Ethereum addresses. Now it appears that the Entity that took the funds exchanged the coins for ETH.

  • 7,420 BNB for 1,500 ETH
  • 1,000,000 DAI for 611.15 ETH, plus 10,000 BNB to 1,979.5 ETH
  • 3,500 BNB for 962,071.43 BSC-USD
  • 10,270,000 DAI for 7,959.04 ETH

During the past few hours, the company appears to have consolidated almost all of its funds in ETH. The address currently holds over 228,523.8 ETH with an approximate value of $289,585,402 at current prices. According to Etherscan, the company still has around $14 million in PAXGold. (PAXG), a token issued by Paxos that aims to remain pegged to the price of an ounce of gold. Paxos announced that it had frozen the PAXG related to the FTX hack, which seems to be why the gold-linked tokens are still in Entity’s wallet.

As of this writing, the account named “FTX Accounts Drainer” on Etherscan is the 35th largest Ethereum whale in the world.

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