FTX attacker continues swapping tokens; exchanges $7.95M BNB for BUSD, ETH FTX attacker continues swapping tokens; exchanges $7.95M BNB for BUSD, ETH
The FTX exploiter currently holds $11.8 million BNB and ETH worth around $346.8 million at current prices.
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Updated: Nov. 17, 2022 at 4:32 pm UTC
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The attackers who drained $600 million from the now-bankrupt exchange FTX, swapped nearly 30,000 BNB tokens for Ethereum (ETH) and Binance USD (BUSD) on Nov. 17. in three transactions, data from Bscscan shows.
In the first transaction, the attacker exchanged 10,000 BNB tokens, worth $2.67 million at the time, for 2001.5 ETH, valued at around $2.4 million, on Pancakeswap. In the next transaction, the hacker swapped BNB worth $3.94 million for BUSD valued at $3.69 million. The exploiter then exchanged 5,014.26 BNB for $1.29 million worth of BUSD.
While no one has claimed responsibility for the attack, allegations soon arose about a “backdoor” created by former FTX chief Sam Bankman-Fried to move funds between FTX and Alameda Research.
The attacker’s wallet currently holds $11.8 million worth of BNB tokens. The attacker also holds around 290,000 ETH, making the exploiter the 34th largest ETH holder.
The hacker has been consistently swapping and moving tokens since earlier this week, between 8:00 and 10:00 am UTC.
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Monika Ghosh
In 2020, Monika immersed herself in crypto, maintaining skepticism yet firmly believing blockchain could address key issues like financial disparity and transparency. A book-lover, she's also a passionate food enthusiast.
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BNB, or Binance Coin, is a cryptocurrency created by Binance.
Ethereum
$3,354.78
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Binance USD
$1.00143
BUSD is a stablecoin issued by Paxos in partnership with Binance..
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.