11-17-2022 icon

FTX hacker rated 35th biggest owner of  Ether

By Lucy Adegbe

Hacker of the recently crashed prominent trading protocol FTX is reported to have gathered quite a fortune which rates it among the big dog holders of Ether.

Barely 24 hours after the troubled FTX trading platform legally signed up for insolvency, its different digital property wallets were ripped off over $663 million, as reported by on-chain analysis provider Elliptic.

According to Elliptic prediction, the hacker had taken out $447 million worth of tokens, most of which were transformed into the Ether coin. The remaining $186 million worth of diverse hundreds of tokens was transferred into a safe locker by the company.

A Tuesday news revealed that the cyber hacker continued with the exploit even after four days through what reviewers termed  Blockchain-based Spoofing. 

Blockchain cyber security provider Beosin, in a November 15 tweet, analyzed information about the hacker conducting numerous interchanges alongside cross-chain swaps. The hacker was estimated to have over $338 million worth of digital assets in custody as of the time of the Tweet.

Also, the attacker’s wallet address showed about 228,523 ETH which was valued at around $288.8 million. This earns the FTX wallet attacker a position as the 35th biggest Ether token holder when rated according to the quantity of ether tokens.

Beacon Chain payment contract is rated as the number one Ether holder as it retains about 15 million of the Ether token.

The market trading rate of Ether still revolves around $1,260, reflecting an estimated 23% plunge since the FTX turmoil.