FTX Hacker Becomes the 35th Largest Holder of Ether
The hacker who raided Sam Bankman-Fried’s defunct cryptocurrency exchange FTX is now one of the world’s largest holders of the Ether token. On Tuesday, a wallet associated with the exploit exchanged approximately $49 million in stablecoins, primarily Dai, for Ether. More than a million creditors may now be wondering if they will get their money back from the platform.
FTX Group has appointed a new slate of independent directors to oversee the collapsed crypto empire, and it has stated that its bankruptcy may involve over a million creditors. Over $663 million in tokens were drained from FTX wallets, with $477 million of that suspected to have been stolen. The perpetrator of an exploit that was both shocking and mysterious has yet to be identified publicly.