‘FTX Accounts Drainer’ Now Holds Over 250,000 ETH, Address Is the 27th Largest Ethereum Wallet
The exploiter responsible for siphoning millions of dollars in ERC20 tokens and ethereum from FTX has added more ether to the entity’s holdings. The wallet is now situated in the top 30 largest wallet positions in terms...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The exploiter responsible for siphoning millions of dollars in ERC20 tokens and ethereum from FTX has added more ether to the entity’s holdings. The wallet is now situated in the top 30 largest wallet positions in terms of ethereum holdings. The address dubbed the “FTX Accounts Drainer” now holds 250,735 ethereum on Saturday, Nov. 19, 2022.
‘FTX Accounts Drainer’ Consolidates Ethereum Stash Adding 22,212 Ether to the Mysterious WalletThere’s a lot of curiosity surrounding the ethereum address called the “FTX Accounts Drainer” or “0x59a” because it’s associated with the entity that drained millions of dollars in tokens from FTX hours after the company filed for bankruptcy protection.
The blockchain surveillance firm Elliptic wrote about the situation on Nov. 12, 2022, and the company estimated that the entity siphoned roughly $477 million. Bitcoin.com News explained on Nov. 15, 2022, that the address known as “FTX Accounts Drainer” also consolidated a large cache of ether following Elliptic’s blog post.
At that time, the wallet was the 35th largest ethereum wallet, and the address held 228,523.83 ether. The stash of ethereum, however, has increased since then by over 22,212 ethereum, and the wallet is now in the 27th position in terms of the largest ethereum wallets today.
The funds at the time of writing are valued at $303 million and the wallet has seen 688 transactions, some of which are dust transactions sent by unknown parties. In addition to the 250,735 ethereum held by the “FTX Accounts Drainer” or “0x59a” the exploiter is associated with another known address.
The ethereum (ETH) address “0x97f” also holds a substantial sum of ERC20 tokens associated with the FTX exchange. The wallet has over a hundred ERC20 tokens and blockchair.com estimates the wallet’s value to be around $191.69 million.
Etherscan.io estimates the tokens to be worth roughly $244 million. The most dominant token in the wallet is FTX’s coin FTT as “0x97f” owns around 45.85 million FTT tokens. The address is actually the second-largest FTT wallet today and it holds 13.94% of the circulating FTT supply.
‘0x97f’ Is a BOBA, LEO, and SRM WhaleThe wallet also holds 143.88 million BOBA coins from the Boba Network project and the supply is also the second largest in terms of circulating BOBA as it controls 28.78% of the supply. Besides Bitfinex, the address “0x97f” is one of the largest LEO holders today as the wallet is the third largest unus sed leo (LEO) holder.
The address also holds 52.93 million serum (SRM) and it’s the second-largest SRM holder with 20.28% of the entire supply. The wallet holds the 40th position in terms of decentraland (MANA) wallets with 0.35% of the supply. The wallet is also the 32nd largest graph (GRT) holder as well holding 0.44% of the GRT supply.
What do you think about the “FTX Accounts Drainer” wallet and how it acquired more than 250,000 ethereum? Let us know what you think about this subject in the comments section below.
Why this matters
This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Dormant Ethereum address holding 12,746 ETH wakes up after 10.2 years
The reactivation of dormant Ethereum wallets highlights potential market shifts, as early holders may choose between selling or st...
Ledger hack scare nears $90 million as Tether moves to freeze stolen USDT
Suspected Ledger wallet thefts are approaching $90 million as Tether freezes USDT stablecoin linked to the incident, according to...
Ethereum ETFs see largest weekly net outflow since January
The significant outflows from Ethereum ETFs may signal waning investor confidence and broader bearish sentiment in the crypto mark...
AI Could Weaken Ethereum Security as Cryptographic Risks Grow, Vitalik Buterin Warns
Buterin urged developers to prepare for potential AI vulnerabilities in both conventional and quantum-resistant cryptography, whil...
Ethereum open interest rose 2.3% in ETH on Binance as its dollar value fell 6.6%
Ethereum open interest in Binance’s ETHUSDT futures contract was 2.27% higher in ETH on Thursday, Oct. 8, over the last 48 hours,...
Ledger investigates potential wallet tampering after reports of $86 million in crypto stolen
The hardware wallet maker said it is investigating devices sold by a Southeast Asian reseller as social posts swirl about crypto a...