FTX Hacker is Now the 35th Biggest Ethereum Holder in the World

Vinod Dsouza
FTX Adds New Feature to Send Crypto to Any Mail or Number
Source: PYMNTS.com

In a strange tale of events, the FTX hacker who siphoned millions from the bankrupt exchange is now the 35th biggest holder of Ethereum in the world, PeckShield reported.

The hacker had drained 400 billion Shiba Inu tokens worth $3.9 million and swapped them for Ethereum gaining 2,346 ETH on Monday. On Tuesday, the hacker swapped $48.2 million worth of DAI stablecoins for 37,570 ETH. The scamster also converted $41 million in BNB to ETH, among an array of other tokens.

Also Read: FTX Hacker Swaps 400 Billion SHIB for Ethereum

After converting all tokens to Ethereum, the FTX hacker now holds 228,523 ETH worth $288 million, making it the 35th largest ETH holder. In total, the hacker has reportedly stolen $477 million worth of digital assets from the now-struggling FTX exchange.

The scamster drained out tokens for three consecutive days after FTX employees’ reported “unauthorized transactions” on the network. An admin of the FTX Telegram group wrote on Saturday, “FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don’t go on FTX site as it might download Trojans.”

The identity of the hacker remains to be unknown despite draining millions for three consecutive days. Speculations are rife on social media that the hack might be an insider job. However, none of it is confirmed as there’s no official statement released by the authorities or FTX regarding the hacker’s identity.

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FTX Communications Remain Silent on the Hack

Source: Bitcoin.com

FTX communication channels have been surprisingly silent about the millions’ worth of hacks. However, social media analysts have donned the Sherlock Holmes hat, updating on who the hacker might be. A handful of investors are closely following the hackers’ wallet address to determine if it’s an insider or outsider job.

While the self-proclaimed investigation opens up various doubts, it can’t be taken seriously as it’s not from an official channel.

Also, Reuters reported that Sam Bankman-Fried allegedly controlled a backdoor in the FTX’s system. “In a subsequent examination, FTX legal and finance teams also learned that Mr. Bankman-Fried implemented what the two people described as a ‘backdoor’ in FTX’s book-keeping system, which was built using bespoke software,” Reuters reported.