FTX Exploiter Combines Holdings in ETH to Touch $302M

The prominent crypto wallet linked to the FTX exploiter, an entity credited for stealing funds from the beleaguered crypto exchange, presently possesses up to 250,735.1 ETH tokens. An update released on the behalf of PeckShield (a blockchain security entity) has pointed out that approximately $302.6 million worth is now held by the respective entity.

Related: FTX Files for Ch. 11 Bankruptcy / SBF Resigns As CEO

Total ETH Holdings of Exploiter Reach $302M

The present holdings of the FTX exploiter place the wallet at the top 27th rank, as per PeckShield. Formerly, the wallet occupied the 34th position, however, a sum from the rest of the addresses linked to it mounted the ETH funds thereof. This fund consolidation points out that one linked account swapped more than 44,000 BNB (the native token of Binance) for almost 3,000 ETH as well as $7.5M worth of stablecoins.

The entity swapped stablecoins for up to 6,200 ETH tokens while the cumulative amount (approximately 9,200 ETH) got transacted to the FTX exploiter’s main address. A couple of other linked wallets additionally transacted above 10,000 ETH tokens to the chief address. In the previous week, when the FTX exchange was going through its epic crash, the FTX exploiter started its malicious activities.

No One Claims FTX Exploit’s Responsibility

At present, the reason behind the swapping of the swindled funds as well as the conversion thereof to BUSD and Ether tokens by the exploiter is not clarified. Apart from that, no party has taken credit for the respective attack on FTX funds. The exploiting entity has been carrying out the activity of converting the funds at the same time during the day.

The start of this episode took place just after the declaration by the crypto exchange that it has gone bankrupt. The exploiter, according to the investigation of the blockchain transactions by Hacken, attempted to transfer USDT holdings on the Tron blockchain many times but remained ineffective.

Therefore, the exploiter utilized the verified account thereof on the Kraken crypto exchange to transact 500 TRX. FTX instructed the customers to delete the entirety of apps related to the firm. The uncommon outflows of FTX, when the exchange halted its withdrawals, paved the way for the speculation that some insiders were perpetrating a hack. The bankruptcy proceedings of FTX take into account the respective funds.

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