FTX drainer sells more BNB, now 34th largest holder of ETH

Quick Take

  • A crypto wallet connected to the suspected drain of FTX accounts swapped a total of 34,000 BNB for 4,500 ether and three million Binance USD this morning.
  • Yesterday, the same wallet swapped large amounts of the decentralized stablecoin dai for ether in a series of multimillion-dollar trades.

A crypto wallet connected to the suspected drain of FTX accounts swapped a total of 34,000 BNB for 4,500 ether (ETH) and three million Binance USD (BUSD) this morning. It is now the 34th largest holder of ether.

Yesterday, the same wallet swapped large amounts of the decentralized stablecoin dai for ether in a series of multimillion-dollar trades. The wallet currently holds at least $322 million in cryptocurrencies — 87.5% of which is ether.

The perpetrator has also been moving funds between their wallets. They consolidated $5.1 million of ETH and $3.3 million of ETH from two other wallets into their main wallet where the majority of the ether lies.

The source of these funds originated from the failed crypto exchange FTX. The transfers, which some speculate were a hack or an inside job, have been specifically noted in the latest court filings for its Chapter 11 bankruptcy protection.


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