Ethereum founder Vitalik Buterin was forced to sell some of the altcoins in his wallet amid the FTX hack.
Vitalik Buterin quickly emptied his wallet amid FTX hack
On-chain data shows that the Ethereum founder sold massive amounts of ETH over the weekend. According to wallet followers, this process took place in the middle of the FTX hack. According to MistTrack data, Buterin exchanged about 3,000 Ethereums for around 4 million USDC. On November 12, Uniswap performed three processes on the V3 platform. Vitalik’s sales come in the midst of a FUD storm, when the FTX hacking crisis has swept social media.
According to the data, Ethereum averaged around $1,261 that day. The President altcoin lost around 20% in price at one point last week. It is currently trading around $1,230. It has moved horizontally in the last 24 hours.
Koindeks.com As you follow, the stock market came to the fore with a $600 million hack attack quickly after it went bankrupt. Hackers quickly converted funds from Tether to DAI. Also, StETH Solana is in the middle of stolen funds on BNB, LINK, AVAX and MATIC. There is a large amount of ETH and BTC in the wallet.
Ethereum founder talks about FTX bankruptcy
Buterin made a statement about the situation of FTX and its founder amid the ongoing crisis. In particular, he highlighted how his bankruptcy overshadowed the MtGox incident. He also added the experiences of Terra founder Do Kwon to these bankruptcies. Buterin says the FTX collapse and related events are not what they seem. He said the embattled founder was also “human.”
$600M exploited in FTX hack
After the FTX bankruptcy, he witnesses millions of funds flowing from his wallets. Over $600 million in unusual transfers reported in just a few hours. On November 12, which is suspected to be the beginning of the bankruptcy process, a large amount of funds suddenly began to be moved from FTX and FTX US wallets to a single wallet. However, on-chain information and reports suggested that FTX wallets had been hacked and that the exploiters sought insider help to gain root access.
On-chain information shows that funds were transferred from FTX and sold via DEX. Currently, UNI, stETH, 1INCH, WBTC, SUSHI, YFI and LDO are sold in large quantities starting with 0x59ab. Other tokens are still in the hands of hackers, including PAXG, LINK, MATIC, AAVE, SNX, SHIB and APE. Also in the wallets of the attackers in FTX, SRM, DYDX, BAND, MANA, ENS, CEL, HT, GRT, GALA and CRV. They carry around $166 million in funds in total here.