FTX Hacker Converts An Additional $16M Worth of ETH Into Bitcoin

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.

See more

🚨1/ Funds stolen from FTX are on the move and exchanges should be on high alert to freeze them if the hacker attempts to cash out

— Chainalysis (@chainalysis) November 20, 2022

However, the FTX hacker is once again striking. Reportedly, the FTX hacker converted an additional $16M worth of ETH into Bitcoin earlier today.

See more

JUST IN: FTX "hacker" converts an additional 15,000 $ETH worth $16 million into #Bitcoin.

— Granit Academy (We're hiring) (@granitacademy) November 21, 2022

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.