FTX hacker becomes 35th largest Ethereum holder

The address associated with the FTX hack swapped US$48.2 million worth of DAI stablecoins to 37,570 Ether on Tuesday, and became the 35th largest holder of the world’s second-largest cryptocurrency by market capitalization, blockchain security firm PeckShield reported on Twitter, citing Etherscan data.

See related article:FTX hit by hack rumor; Korea updates crypto death note

Fast facts

• The address held 228,523.83 Ether, as of 08:30 p.m. in Hong Kong.
• “The attacker appeared to be panicking, and lost a large amount of their token holdings to slippage,” according to crypto intelligence firm Arkham.

• The suspicious address also had US$41 million in BNB, US$20 million in frozen PAXG, US$7 million in DAI on BNB Chain, US$4 million in USDT on Avalanche, and US$3.8 million in MATIC, according to Arkham. 

• ETH lost 0.2% of its value in the past 24 hours, and was trading at US$1,262 at 08:30 p.m. in Hong Kong, according to CoinGecko data.

See related article: Why FTX Shows We Underestimate Our Risk