FTX Hacker’s Recent Activities and Crypto Market Impact

FTX Hacker's New Transaction

The notorious FTX hacker recently conducted a notable transaction, moving approximately 288.8 Bitcoin valued at around $10 million. This is part of a series of moves by the hacker since the collapse of the FTX crypto trading platform nearly a year ago.

Total Cryptocurrency Stolen from FTX

In the aftermath of FTX's collapse, around $500 million in cryptocurrency was stolen. The hacker exchanged most of this into Ethereum, amassing 180,000 Ethereum, spread across 12 different addresses. This made the hacker the largest holder of Ethereum for a time, with the value peaking at approximately $200 million.

Attempts to Swap Stolen ETH

The hacker has made several attempts to swap the stolen Ethereum. In early October, efforts to exchange it via the ThorSwap DeFi platform were thwarted when the platform suspended operations. The hacker then utilized the Threshold Network to cross-chain the Ethereum into the Bitcoin network, retaining about 110,000 ETH valued at $180 million.

Major Ethereum Transactions

Recent data from Whale Alert highlighted significant Ethereum transactions to major U.S. exchanges. These included transactions totaling 171,800 ETH, with notable transfers to platforms like Coinbase and Kraken. This activity coincided with Ethereum's price fluctuations, which saw a surge followed by a slight drop, yet maintaining a strong position above the $1,800 mark.

Market Response and Trends

Ethereum witnessed an 18.14% growth within a week, reaching a high of $1,848, before experiencing a minor decline. Despite this, Ethereum continues to hold its ground, influenced by both the hacker's activities and broader market trends. Bitcoin also showed strong performance, crossing the $34,000 threshold, reflecting robust investor interest in leading cryptocurrencies amidst ongoing hacker developments.