Did the Bahamian authorities initiate the liquidation of hundreds of thousands of ETH from the FTX exchange? Or is it the famous “hacker”?
Caribbean Ethereum
The Bahamas SEC has admitted to being behind the withdrawal of the equivalent of $477 million in ethereum, Solana and BSC, etc.
Here is an excerpt from communicated :
“The Bahamas SEC, in exercise of its powers as regulator acting under an order of the Supreme Court of the Bahamas, has taken the step of ordering the transfer of all digital assets of FTX to his wallets”.
But confusion reigns since FTX “got hacked” on November 11th. That’s just hours before Bahamian authorities order the transfer of funds.
For MarketWatch, there was no hack. However, recent events suggest opposite.
We know the ETH is on the address 0x59ABf3… And that these are currently being converted into renBTC.
RenBTC is a token whose value is anchored to that of bitcoin. In other words, the protocol tries to make one RenBTC always equal 1 BTC, regardless of whether RenBTC is an ERC-20 token running on the Ethereum network.
If it is indeed the “hacker” (inside job?…), these funds will probably soon end up in BTC before going into a “mixer” to cover their tracks.
200,000 ETH about to be liquidated?
The address in question contains more than 200,000 eth. Or the equivalent of 270 million dollars.
Translation of the tweet:
“Basically, it’s the nightmare scenario unfolding in real time. Hacker FTX is massively selling ETH. He just loaded another cart of 25,000 ETH and he has 200,000 ETH left in his main wallet. $270 million pressure to sell ETH. »
The reaction was quick in the market with a drop of more than 5% in ethereum in the space of a few hours.
And this after selling only a few thousand ETH. There are still 200,000 ETH left on the address.
As a reminder, FTX no longer owned any bitcoin at the time of its bankruptcy. The exchange owes the equivalent of $3 billion to its 50 largest creditors.
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