FTX Hacker Starts Dumping Massive Haul Of Ether Tokens

As Bloomberg reported earlier in the week, the hackers who stole the funds have become one of the world’s largest holders of the Ether token.

According to security specialists PeckShield, a wallet linked with the exploit swapped about another $49 million of stablecoins – mainly Dai – for Ether on Tuesday. That lifted the attacker’s Ether haul to 228,523 or about $288 million – the 35th largest stash of the coin, according to data from analytics platform Etherscan.

#PeckShieldAlert FTX Accounts Drainer has swapped 48.27M $DAI (~$48.36M) to 37.57k $ETH (~$47.69M) on Ethereum
Arbitrary loss: -$671,424.25
FTX Accounts Drainer currently holds 228,523.83 $ETH (~$288M) and makes the address become the 35th largest holder of ETH pic.twitter.com/8oukNomdDf— PeckShieldAlert (@PeckShieldAlert) November 15, 2022

The hacker reportedly transferred some funds using the crypto exchange operated by Kraken, which said it had been in touch with law enforcement about the matter.

But now, as Coinpedia.org reports, the FTX hacker has begun to liquidate those holdings creating significant downward pressure on Ethereum’s price.

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