The news broke on the internet yesterday.
After the latest news going on about FTX, its bankruptcy, and, lately, its hacking situation, a hacker reportedly stole large amounts of ETH and converted them into BTC.
This hacker conversion was first reported yesterday, where the hacker stole 228,000 worth of ETH, which is around $270 million in value. Because of this, the hacker turned into the largest Ethereum holders in the crypto market.
In a tweet made on Nov. 20, the SCB ordered SBF and FTX to transfer the funds to the Securities Commission of The Bahamas. However, whether these funds were transferred into their wallet remains unknown.
However, the FTX hacker is once again striking. Reportedly, the FTX hacker converted an additional $16M worth of ETH into Bitcoin earlier today.
We still have no information if the hacker is planning to cash out the converted BTC, so we have to wait.
The bankruptcy and collapse of the FTX exchange have created major inconveniences in the crypto industry, and many platforms are suffering enormous losses.