FTX Drainer Continues to Swap ETH for BTC, Here’s How Much’s Left in the Address

FTX Drainer Continues to Swap ETH for BTC, Here's How Much's Left in the Address

The entity that drained FTX’s wallets after the fallen exchange filed for bankruptcy continues to move around the funds.

Although the Bahamas’ securities regulator claimed it siphoned the funds, the suspicious transactions now are questioning this narrative.

The wallet designated as the FTX drainer started moving funds during the weekend, as CryptoPotato reported.
A new wave of transactions began on Monday. The entity made a few initial transfers to another wallet, ending with “d68ada.” They moved 15,000 ETH, valued at over $16,000 at today’s prices.
The receiver began swapping the funds for wrapped bitcoin (either WBTC or renBTW) on Uniswap. Other transactions saw the trading of ETH for sBTC on Synthetix.
As of now, the wallet dubbed “FTX Account Drainer” has been left with just under 186K ETH, valued at $210 million.
These suspicious transactions come just days after the Bahamas’ securities regulator indicated that it seized the assets from FTX after the exchange filed for Chapter 11 bankruptcy. Although the Commission said it did it to protect customers and creditors, these transfers are putting this claim in doubt now.
Additionally, the movements have put sell pressure on ETH, which lost over 5% of value over the past 24 hours, and now struggles to remain north of $1,100.

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).


PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This website is using cookies to improve the user-friendliness. You agree by using the website further.

Privacy policy

Pin It on Pinterest