After days of consolidating its ether (ETH) holdings, the FTX drainer is now swapping ETH for bitcoin with $72 million moved thus far.
In this venture capital-focused segment of The Scoop, CoinShare Chief Strategy Officer Meltem Demirors and Aglaé Ventures Managing Partner Vanessa Grellet explain which crypto verticals are oversaturated, and examine how market dynamics have changed since last year.
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FTX hacker dumps 50,000 ETH, still among top 40 Ether holdersThe FTX hacker drained nearly $447 million out of multiple FTX global and FTX.US exchange wallets just hours after the crypto exchange filed for Chapter 11 bankruptcy on Nov. 11.
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'FTX Accounts Drainer' Offloads 50,000 ETH, Entity Uses Ren’s Bitcoin Gateway to Acquire BTC – Bitcoin NewsOn Nov. 20, the wallet known as “FTX Accounts Drainer” transferred roughly 50,000 ethereum out of the wallet.
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FTX funds on the move as thief converts thousands of ETH into BitcoinApproximately 31,000 ETH have been converted into 2444.55 BTC, though this is only a fraction of the total amount stolen.
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Bitcoin drops to 1-week low, ether slides 7% as FTX collapse ripples through crypto marketThe cryptocurrency market has come under pressure over the last two weeks as problems at major exchange FTX came to light.
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Ether under pressure as 'FTX Accounts Drainer' cashes out for bitcoinThe so-called 'FTX Accounts Drainer' is swapping its ether stack for bitcoin — and putting downward pressure on the price of ether in the process.
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