• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, June 20, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

On-chain data reveals how an FTX hacker converted 25,000 ETH to BTC

by Sneha Singh
November 20, 2022
in Crypto
Reading Time: 2 mins read
0
FTX
TwitterWhatsappLinkedin

Surprisingly, the FTX hacker who stole millions from the shutdown exchange is now one of the most prominent Ethereum investors worldwide.

You might also like

Financial Leap by X: In App Trading and Digital Wallet Propel Musk’s Super App Dream

Crypto’s Final Frontier: Binance’s CZ Champions “Will Function” for Digital Assets After Death

Crypto’s Youngest Tycoon? How Barron Trump May Have Earned $40 Million from His Father’s World Liberty Financial

The hacker acquired 2,346 ETH on Monday after exchanging 400 billion Shiba Inu tokens worth $3.9 million for 2,346 ETH. On Tuesday, the hacker traded 37,570 ETH for DAI stablecoins valued at $48.2 million. The scammer also changed several other tokens into ETH, including $41 million in BNB.

The hacker reportedly stole digital assets totaling $477 million from the struggling FTX exchange. In addition, the FTX hacker has converted 25,000 ETH to BTC in a fresh set of activities.

On-chain data shows that the hacker transferred 25,000 ETH to an unidentified wallet and exchanged it for 1,753 BTC. The deal was made at 11:35:54 UTC. The hacker has, however, also exchanged 50,000 ETH for 3,517 renBTC.

#PeckShieldAlert FTX Accounts Drainer 1 currently holds 200,735.1 $ETH (~$235.5M) & drops to the 37th largest holder of $ETH (from 27th)
FTX Accounts Drainer 1 has transffered 50k $ETH (~$58.5M) to 0x866E, then 0x866E swapped these $ETH for ~3,517 $renBTC and bridged out pic.twitter.com/Qokr8bQrvg

— PeckShieldAlert (@PeckShieldAlert) November 20, 2022

According to information from PeckShieldAlert, the hacker currently has 200,735 ETH valued at $235.5 million. The hacker drops from the 27th position in terms of holdings of Ethereum to the 37th position after selling the ETH.

The FTX hacker’s identity is still a mystery. However, many believe Sam Bankman-Fried himself is responsible. As the price of ETH declines, the sequence of dumps has inspired dread. ETH is currently down 3% in value over the last 24 hours, trading at $1,170.63.

FTX accounts Drainer 

The “FTX Accounts Drainer,” a wallet for Ethereum that was recently ranked as the 27th most prominent ether address, has begun to discharge the ether it has accumulated. The wallet contained 250,735 ether on November 19, 2022, but by 7:44 a.m. (ET) on November 20, the “FTX Accounts Drainer” had moved almost 50,000 ether out of the wallet. The firm has been exchanging its Ethereum for bitcoin via Ren’s gateway.

FTX

After selling about 50,000 ether worth about $58.3 million on Sunday, November 20, 2022, the “FTX Accounts Drainer” wallet slipped to the 37th-largest Ethereum wallet position. The wallet reportedly aggregated more than 250,000 ETH the day before, making it the 27th-largest ether wallet.

According to Onchain analysis, the 50,000 Ethereum were transferred via Ren’s bitcoin gateway. A system that tokenizes bitcoin on the Ethereum blockchain by the user known as “FTX Accounts Drainer.” Currently, no one is sure who the “FTX Accounts Drainer” is; some think it’s a malignant entity, some think it’s a former FTX executive, and others believe it might be a white hat hacker.

Over 100 ERC20 tokens are stored at the entity’s other address, valued at approximately $189 million, and dormant for a week. Users who choose to offload through Ren’s bitcoin gateway wish to receive bitcoin in return for their ether. Ren was used instead of switching into WBTC, maybe because Bitgo runs WBTC.

The Renvm protocol is more decentralized since it can create tokens that stand in for cryptocurrencies that aren’t Ethereum-based. WBTC and other popular tokenized BTC products are far more liquid than RENBTC.

Tags: bankruptcybitcoincryptocurrencyFTX
Tweet54SendShare15
Previous Post

VW to delay a key project, Mercedes cut prices on its flagship EQS EV

Next Post

Tips and tricks to effectively target your audience via Google Ads Campaign

Sneha Singh

Sneha is a skilled writer with a passion for uncovering the latest stories and breaking news. She has written for a variety of publications, covering topics ranging from politics and business to entertainment and sports.

Recommended For You

Financial Leap by X: In App Trading and Digital Wallet Propel Musk’s Super App Dream

by Anindya Paul
June 20, 2025
0
X

Elon Musk’s ambition to transform X (formerly Twitter) into an “everything app” edges closer to reality. According to CEO Linda Yaccarino, the platform will soon offer in app...

Read more

Crypto’s Final Frontier: Binance’s CZ Champions “Will Function” for Digital Assets After Death

by Anindya Paul
June 19, 2025
0
CZ

As the digital asset landscape matures, estate planning in crypto has emerged as one of its final, least-discussed frontiers. Binance founder Changpeng “CZ” Zhao is tackling this head-on,...

Read more

Crypto’s Youngest Tycoon? How Barron Trump May Have Earned $40 Million from His Father’s World Liberty Financial

by Anindya Paul
June 19, 2025
0
Barron Trump

At just 19, Barron Trump — the youngest son of former President Donald Trump — may have pocketed nearly $40 million from the family’s crypto initiative, World Liberty...

Read more
Next Post
Tips and tricks to effectively target your audience via Google Ads Campaign

Tips and tricks to effectively target your audience via Google Ads Campaign

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?