FTX hacker’s wallet keeps growing as Ethereum ETF prepares for US debut

Author Victoria Lyapota Reading time 2 minutes Views 9 Published date 09/30/2023 Updated date 09/30/2023

Nearly a year after the FTX hack resulted in the loss of $600 million worth of tokens, on-chain data shows activity from the attacker’s wallet (identified as 0x3e957) as recently as Saturday, September 30, 2023. Ethereum-based ETF launched in the US.

On-chain data obtained from Spotonchain shows that the person responsible for the FTX incident recently activated his address after a long time. The wallet currently contains $16.75 million worth of ETH tokens.

Data shows that the attacker moved 2,500 ETH in two separate transactions, each worth $4 million. Such transfers are often tied to sales, which can put downward pressure on prices and impact small investors. With the launch of various Ethereum ETFs in the United States, Ethereum price may soon embark on a bullish trend.

The launch of Ethereum-based ETFs by multiple companies on October 2, 2023 will be another potential factor affecting the price of ETH. If all goes according to plan and the U.S. Securities and Exchange Commission (SEC) grants fast-track approval to up to nine ETF products that day, the impact could be significant.

Related: Valkyrie Withdraws Ethereum Futures Contract Purchases Ahead of ETF Launch

Meanwhile, the looming risk of a U.S. government shutdown could pose a potential threat to Bitcoin (BTC) prices as it negatively impacts the banking sector.

Information source: Compiled from CRYPTOHAMSTER by 0x Information.Copyright belongs to the author Victoria Lyapota and may not be reproduced without permission.

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