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News

FTX Accounts Drainer Starts Swapping Tokens To Ethereum

November 15, 2022 - Around 1 mins mins to read
In a series of multimillion-dollar deals, a cryptocurrency address linked to the alleged drain of FTX accounts is exchanging DAI for Ether.
FTX Accounts Drainer Starts Swapping Tokens To Ethereum
FTX Accounts Drainer Starts Swapping Tokens To Ethereum 2

According to security company PeckShield, the process started when one related crypto access acquired about 21,155 ETH from other associated addresses. The receiving address subsequently authorized dai for trading on the GPv2VaultRelayer of the CoW Protocol.

The account also swapped 7,420 BNB for 1,500 ETH on BSC and then bridged it to Ethereum. The swapping address is currently the 36th-largest Ether holder.

This is the result of FTX being hacked, causing the exchange to lose more than $600 million. This crash made users more suspicious of the exchange taking their money.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

FTX Accounts Drainer Starts Swapping Tokens To Ethereum

In a series of multimillion-dollar deals, a cryptocurrency address linked to the alleged drain of FTX accounts is exchanging DAI for Ether.
FTX Accounts Drainer Starts Swapping Tokens To Ethereum
FTX Accounts Drainer Starts Swapping Tokens To Ethereum 4

According to security company PeckShield, the process started when one related crypto access acquired about 21,155 ETH from other associated addresses. The receiving address subsequently authorized dai for trading on the GPv2VaultRelayer of the CoW Protocol.

The account also swapped 7,420 BNB for 1,500 ETH on BSC and then bridged it to Ethereum. The swapping address is currently the 36th-largest Ether holder.

This is the result of FTX being hacked, causing the exchange to lose more than $600 million. This crash made users more suspicious of the exchange taking their money.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News