On Nov. 20, the FTX Exploiter account started to start out shifting the stolen funds as soon as once more — totaling 50,000 Ethereum (ETH) valued at an estimated $60 million.
The FTX hacker is doing issues…
They despatched 25k ETH to a different pockets and have been actively promoting into RenBTC over the previous couple of hours.
They offered one other 3k ETH a couple of minutes in the past.
And have offered 18K ETH ($21.7M) of the 25k to this point.
Cannot we simply chill on a Sunday? pic.twitter.com/WLwlU943R9
— Aylo (@alpha_pls) November 20, 2022
Unfold roughly throughout a four-hour window, the hacker first shifted 5000 ETH, then 10,000 ETH twice, after which lastly an extra 25,000 ETH to a different pockets.
Funds bridged from ETH to renBTC
With $60 million in ETH on the brand new ‘0x866’ pockets, the FTX Exploiter then started bridging parts of the 50,000 ETH utilizing RenBridge, the blockchain bridging platform backed by Alameda Analysis.
The $477 million acquired by the “FTX drainer” ethereum account is now being bridged to Bitcoin, utilizing RenBridge (owned by Alameda!)
$28 million in ETH has been transformed to RenBTC to this point this morning, of which $18 million has been bridged to BTC.https://t.co/46DhCaX7GQ— Tom Robinson (@tomrobin) November 20, 2022
The FTX Exploiter continued to swap nearly all of the 50,000 ETH into renBTC and bridged a complete of 692 renBTC.
At present, at press time, the ‘0x866’ pockets holds virtually 10 ETH and 0.092 renBTC which mix for a complete worth of round $13,000.
Considerations surrounding Ethereum
In mild of the 50,000 ETH to renBTC bridging occasion in the present day, considerations have begun to resonate on Twitter relating to the state of Ethereum, as seen beneath — defined by the founding father of YCC, Duo 9.
If #Ethereum is “higher” than BTC, why is that this #FTX hacker dumping it for #Bitcoin?
Actions communicate louder than phrases and this can be a clear $250 mil vote on #BTC.
Will take into account shopping for #ETH as soon as it’s again at 3 digits. pic.twitter.com/V29apdHC3o
— Duo 9 | discord.gg/ycc (@DU09BTC) November 20, 2022
The priority expressed by Duo 9 prompted a number of responses, them too displaying worries surrounding Ethereum starting from SEC regulation, centralization, and ETH provide locked up.
Whereas primarily hypothesis, the one correct concern identified by the Twitter person, Oracle, is the motion towards a ‘censored’ Ethereum blockchain system — as coated earlier this week.
Standing at 78.18% at press time, the entire each day common of Workplace of Overseas Belongings Management (OFAC) compliant blocks on the Ethereum blockchain steadily continues to rise.
The value of Ethereum fell beneath $1,200 on the day to a low of $1,155, a drop of three% from the weekend excessive of $1,233.