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Wednesday, June 11, 2025
FTX Hacker Becomes One Of Biggest Ethereum Whales After Flurry of BNB and DAI Swaps: On-Chain Data
An entity that moved funds out of a wallet on cryptocurrency exchange FTX last week has exchanged its coins to amass ETH, making it one of the largest Ethereum whales in existence.
On Friday, FTX General Counsel Ryne Miller released a statement on the company’s Telegram channel, saying the exchange had been hacked.
On-chain data has revealed that around $400 million in cryptocurrency was moved from exchange wallets to unknown Ethereum addresses. Now it looks like the entity that received the funds exchanges the coins for her ETH.
Blockchain security firm PeckShield has reported a series of sophisticated swaps initiated by an alleged hacker.
- 7,420 BNB for 1,500 ETH
- 611.15 ETH for 1,000,000 DAI, plus 1,979.5 ETH for 10,000 BNB
- 3,500 BNB in 962,071.43 BSC-USD
- 10,270,000 DAI at 7,959.04 ETH
For the past few hours, the entity has Linking Almost all funds in ETH. This address currently has over 228,523.8 ETH, equivalent to approximately $289,585,402 at today’s prices.
According to Etherscan, the group still holds about $14 million in PAXGold (PAXG), a token issued by Paxos that aims to keep the price of an ounce of gold pegged.Paxos announced It appears that the gold-backed tokens are still in the entity’s wallet as they have frozen the PAXG associated with the FTX hackers.
At the time of writing, Etherscan’s accounts labeled “FTX Accounts Drainer” are currently 35th largest Ethereum whale in the world.
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