It is believed that the hacker currently holds around $288 million worth of Ethereum (ETH).
The news about unauthorized transactions was first brought to attention on November 12th, when crypto exchange FTX was drained for $266.3 million and FTX US for $73 million.
The information was uncovered by blockchain analysis provider Elliptic, which claims that on November 12th, FTX recorded a $663 million outflow. According to the data, a hacker stole around $477 million, while $186 million was transferred by FTX.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Basic Attention Token (BAT)? Brave Browser EASILY Explained
However, it seems that November 12th wasn’t quite enough for the FTX hacker. The malicious actor continued to drain FTX on November 15th.
Blockchain security firm Beosin reported that hacker performed several swaps and cross-chain transactions, allowing them to bag $338 million in crypto assets.
The hacker’s wallet, dubbed FTX Accounts Drainer, holds around 228,523 ETH worth around $285,000. The astonishing Ethereum (ETH) holdings make the hacker the 35th largest ETH holder.
Crypto analysis website CoinCarp shared an Ethereum-rich list, which contains wallet addresses holding the largest amount of ETH. The Beacon Chain deposit contract is holding the first position with around 15 million ETH.
It is worth noting that the majority of leading ETH holders are Decentralized Finance (DeFi) bridges, crypto exchanges, and layer-2 protocols.
The hack was just another punch for the now-bankrupt cryptocurrency exchange FTX. The company started collapsing when on November 6th, Binance CEO and co-founder Changpeng Zhao announced that his company plans to liquidate all of its FTX native token, FTT, holdings. In the turn of events, on November 8th, FTX CEO Sam Bankman-Fried announced that Binance is planning to acquire FTX.
However, on November 9th, Binance announced that it was stepping away from the deal due to “reports regarding mishandled customer funds and alleged US agency investigations.” Finally, on November 11th, FTX started Chapter 11 bankruptcy proceedings.
At the time of writing, Ethereum (ETH) retails for $1,251.08, recording a 0.83% price drop in the last 24 hours.
