FTX Exploiter Transfers 5,000 ETH Ahead Of Ether Futures ETF Launch
30 Setembro 2023 - 1:30PM
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Some 5,000 ETH, worth over $8.2 million, have been moved from a
wallet address associated with the FTX hacker. This development
marks the first time assets have been transferred out of the
hacker’s wallet following the exploit about a year ago. Related
Reading: Cathie Wood’s ARK Invest Joins Ethereum Futures ETF Race
After Spot Bitcoin ETF Delay FTX Hacker Moves 5,000 ETH, Spot On
Chain Reveals Marked as one the biggest crypto heists ever, the
now-defunct FTX exchange suffered a loss of over $600 million
through an hack in November 2022, a few hours after filing for
bankruptcy. According to the on-chain analytics platform Spot
On Chain, the FTX exploiter has now transferred 5,000 ETH in two
transactions, moving 2,500 ETH to two separate wallets with a space
of two hours between both transactions. Spot on Chain further
revealed that following the first transaction, the hacker moved 700
ETH through the Thorchain Router and 1,200 ETH through the DeFi
wallet Railgun, both crypto projects that are lauded for their
privacy-focused features. Aside from the origin of these
transferred assets, the movements of the FTX exploiter have drawn
much attention due to a key development in the crypto space, with
many enthusiasts and analysts now speculating on a possible market
sell-off. Related Reading: Grayscale Takes New Approach As It
Files For Another Ethereum Futures ETF Could FTX Hacker Be Planning
A Sell-Off As Ether Futures ETF Launch Nears? This week, reports
swelled that the US Securities and Exchange Commission (SEC) was
looking to clear some Ether futures ETH for launch next week ahead
of a possible government shutdown. These reports picked up more
steam in less than a day when the VanEck Investment firm announced
plans to soon launch an Ether futures ETH, named the VanEck
Ethereum Strategy ETF. However, Valkyrie Investments, who had
been tipped to be the forerunner for the SEC’s approval, finally
won the race, securing the commission’s green light to launch the
first-ever Ether futures ETF in the US. Following the
official launch of an Ether futures ETF, there is likely a massive
positive effect on ETH price movement. Just in the last two days of
similar positive news around this investment fund, the
second-largest cryptocurrency already rose by 4%, based on data
from CoinMarketCap. Now, the recent token transfers by the
FTX hacker are usually associated with an impending sell action.
Thus, there is a possibility that this bad actor could be planning
to take profit from the potential ETH price surge, which could be
generated from the launch of ETH futures ETF. Such selling
action is a common practice by crypto whales and is known to induce
a bearish trend, which could be dangerous for small traders.
At the time of writing, ETH trades at $1,677, with a 5.77% gain in
the last day. Meanwhile, the token’s daily trading volume is down
by 44.35% and valued at $3.8 billion. ETH trading at
$1,675.57 on the hourly chart | Source: ETHUSDT chart on
Tradingview.com Featured image from Money,chart from Tradingview
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