FTX Hacker Becomes 34th Biggest ETH Whale in the World - The FTX hacker on Nov 12 continued to convert stolen tokens to Ethereum (ETH).

    The crash of FTX sent the crypto market reeling, FTX then filed for Chapter 11 bankruptcy. Just a day after FTX declared bankruptcy, its wallets were drained of more than $663 million in a variety of crypto assets, as reported by blockchain intelligence company Elliptic.

    According to Elliptic, approximately $477 million of this was stolen while $186 million worth of over a hundred different tokens was believed to be moved into secure storage FTX itself. Blockchain data showed that the attacker has conducted multiple swaps and cross-chain transactions to convert assets to Ethereum. As of November 15, this hacker held more than 228,000 ETH by swapping altcoins and tokens on DEX exchanges.

    The hacker continued to swap tokens on Nov 16 with a total of 34,000 BNB and 3 million BUSD, equivalent to 4,500 ETH. At the time of writing, the hacker is holding over 235,000 ETH worth nearly 290 million USD. That way, this hacker has become the 34th biggest ETH whale in the world.

    According to CoinCarp’s Ethereum rich list, the top holder is the Beacon Chain deposit contract which contains around 15 million ETH. Furthermore, most of those in the top 20 are crypto exchanges, layer 2 protocols, and DeFi bridges. The top 20 ETH wallets hold 27.7% of the entire circulating supply, and the top 50 wallets hold 1/3 of the total ETH.

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