{"id":509593,"date":"2022-11-21T17:51:35","date_gmt":"2022-11-21T17:51:35","guid":{"rendered":"https:\/\/wncen.com\/?p=509593"},"modified":"2024-06-11T14:28:27","modified_gmt":"2024-06-11T14:28:27","slug":"ftx-hacker-mobilizes-ethereum-again-lock-and-loaded-for-the-dump","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ftx-hacker-mobilizes-ethereum-again-lock-and-loaded-for-the-dump\/","title":{"rendered":"FTX Hacker Mobilizes Ethereum Again, Lock And Loaded For The Dump?"},"content":{"rendered":"

Massive selling pressure from the crypto exchange FTX hacker hit Ethereum; the bad actor has been dumping the cryptocurrency during the weekend. This \u201cdumping,\u201d selling an asset in the market, is creating panic in the crypto market. The hacker stole over 200,000 from the trading venue.\u00a0<\/span><\/strong><\/p>\n

Related Reading: Ethereum Price Dips As 400,000 ETH Moved From Crypto Exchanges<\/a><\/div>\n

As of this writing, Ethereum is trading in the red. The second cryptocurrency by market cap is priced at $1,120 with a 5% and 9% loss in short and higher timeframes. ETH\u2019s price is recording adverse price action and much more downside pressure than other cryptocurrencies.\u00a0<\/span><\/p>\n

\"Ethereum
ETH’s price crashed on the daily chart. Source: ETHUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

FTX Ethereum (ETH) On The Move, Crypto Market Braces For Impact<\/h2>\n

Several on-chain monitors are recording new activity on the Ethereum blockchain related to the FTX hack. Data from Etherscan indicates that the bad actor moved over 180,000, almost the total of the stolen funds, in the last hour.\u00a0<\/span><\/p>\n

According to a pseudonym user, the hacker is moving ETH in $15,000 batches. The hacker is potentially positioning to sell the funds in the market. This ETH dump could negatively affect the Ethereum price and trigger a fresh leg down.\u00a0<\/span><\/p>\n

\n

Hacker moving all his ETH right now in 15k lots, seems likely he is getting ready to sell pic.twitter.com\/TXjpaG7i6f<\/a><\/p>\n

\u2014 Avi (@AviFelman) November 21, 2022<\/a>\u00a0<\/span><\/p><\/blockquote>\n

On-chain monitor PeckShield managed to uncover the FTX hacker\u2019s modus operandi. The bad actor is swapping ETH for a synthesized form of Bitcoin called renBTC.\u00a0<\/span><\/p>\n

\n

#PeckShieldAlert<\/a> FTX Accounts Drainer 1 has transferred 15k $ETH<\/a> (~$16.7M) to 0x8059, then 0x8059 swapped these $ETH<\/a> for ~1,023.6 $renBTC<\/a> and 0.33 $WBTC<\/a>
\nThese $renBTC<\/a> have been bridged out
\nSeems like the Drainer is temporarily limited by the liquidity of $renBTC<\/a> \ud83d\udc40 pic.twitter.com\/g9ByFFmjk5<\/a><\/p>\n

\u2014 PeckShieldAlert (@PeckShieldAlert) November 21, 2022<\/a>\u00a0<\/span><\/p><\/blockquote>\n

The decentralized cross-chain exchange, RenBridge, issues this token. Users believe the bad actor can swap this renBTC for regular Bitcoin (BTC) and eventually send these funds to a mixer service to clean it with a low-tier centralized exchange.\u00a0<\/span><\/p>\n

As noted by a CNBC report, FTX purchased RenBridge for $74 million back in 2021. FTX, under its new CEO John Ray, issued an alert to all crypto exchanges. Ray and other entities asked the trading venues to monitor any suspicious activity.\u00a0<\/span><\/p>\n

Ethereum Will See A 2022 Low?<\/h3>\n

In the wake of recent events, market participants are expecting further downside pressure. Analyst Justin Bennett believes<\/a> Ethereum is on a decline.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Recovery Only Temporary As All Roads Lead To $15,000<\/a><\/div>\n

As seen in the chart below, the daily chart for Ethereum hints at two potential support levels at around $1,080 and $1,010. If bulls fail to defend these levels, the cryptocurrency might return to its yearly low at about $900.<\/span><\/p>\n

\"FTX
ETH’s price and its two potential support areas. Source: Justin Bennett via Twitter<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Massive selling pressure from the crypto exchange FTX hacker hit Ethereum; the bad actor has been dumping the cryptocurrency during the weekend. This \u201cdumping,\u201d selling an asset in the market, is creating panic in the crypto market. The hacker stole over 200,000 from the trading venue.\u00a0 Related Reading: Ethereum Price Dips As 400,000 ETH Moved From Crypto Exchanges As of this writing, Ethereum is trading in the red. The second cryptocurrency by market cap is priced at $1,120 with a 5% and 9% loss in short and higher timeframes. ETH\u2019s price is recording adverse price action and much more downside pressure than other cryptocurrencies.\u00a0 FTX Ethereum (ETH) On The Move, Crypto Market Braces For Impact Several on-chain monitors are recording new activity on the Ethereum blockchain related to the FTX hack. Data from Etherscan indicates that the bad actor moved over 180,000, almost the total of the stolen funds, in the last hour.\u00a0 According to a pseudonym user, the hacker is moving ETH in $15,000 batches. The hacker is potentially positioning to sell the funds in the market. This ETH dump could negatively affect the Ethereum price and trigger a fresh leg down.\u00a0 Hacker moving all his ETH right now in 15k lots, seems likely he is getting ready to sell pic.twitter.com\/TXjpaG7i6f \u2014 Avi (@AviFelman) November 21, 2022\u00a0 On-chain monitor PeckShield managed to uncover the FTX hacker\u2019s modus operandi. The bad actor is swapping ETH for a synthesized form of Bitcoin called renBTC.\u00a0 #PeckShieldAlert FTX Accounts Drainer 1 has transferred 15k $ETH (~$16.7M) to 0x8059, then 0x8059 swapped these $ETH for ~1,023.6 $renBTC and 0.33 $WBTC These $renBTC have been bridged out Seems like the Drainer is temporarily limited by the liquidity of $renBTC \ud83d\udc40 pic.twitter.com\/g9ByFFmjk5 \u2014 PeckShieldAlert (@PeckShieldAlert) November 21, 2022\u00a0 The decentralized cross-chain exchange, RenBridge, issues this token. Users believe the bad actor can swap this renBTC for regular Bitcoin (BTC) and eventually send these funds to a mixer service to clean it with a low-tier centralized exchange.\u00a0 As noted by a CNBC report, FTX purchased RenBridge for $74 million back in 2021. FTX, under its new CEO John Ray, issued an alert to all crypto exchanges. Ray and other entities asked the trading venues to monitor any suspicious activity.\u00a0 Ethereum Will See A 2022 Low? In the wake of recent events, market participants are expecting further downside pressure. Analyst Justin Bennett believes Ethereum is on a decline.\u00a0 Related Reading: Bitcoin Recovery Only Temporary As All Roads Lead To $15,000 As seen in the chart below, the daily chart for Ethereum hints at two potential support levels at around $1,080 and $1,010. If bulls fail to defend these levels, the cryptocurrency might return to its yearly low at about $900.<\/p>\n","protected":false},"author":535,"featured_media":508153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946,78803],"class_list":["post-509593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum","tag-ethusdt"],"acf":[],"yoast_head":"\nFTX Hacker Mobilizes Ethereum Again, Loaded For The Dump?<\/title>\n<meta name=\"description\" content=\"Massive selling pressure from the crypto exchange FTX hacker hit Ethereum; the bad actor has been dumping it during the weekend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ftx-hacker-mobilizes-ethereum-again-lock-and-loaded-for-the-dump\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTX Hacker Mobilizes Ethereum Again, Loaded For The Dump?\" \/>\n<meta property=\"og:description\" content=\"Massive selling pressure from the crypto exchange FTX hacker hit Ethereum; 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FTX Hacker Mobilizes Ethereum Again, Lock And Loaded For The Dump?","url":"http:\/\/wncen.com\/news\/ftx-hacker-mobilizes-ethereum-again-lock-and-loaded-for-the-dump\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ftx-hacker-mobilizes-ethereum-again-lock-and-loaded-for-the-dump\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/ethereum-price.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/ethereum-price.jpeg?fit=1000%2C662"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusdt"],"dateCreated":"2022-11-21T17:51:35Z","datePublished":"2022-11-21T17:51:35Z","dateModified":"2024-06-11T14:28:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"FTX Hacker Mobilizes Ethereum Again, Lock And Loaded For The Dump?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ftx-hacker-mobilizes-ethereum-again-lock-and-loaded-for-the-dump\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ftx-hacker-mobilizes-ethereum-again-lock-and-loaded-for-the-dump\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/ethereum-price.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/ethereum-price.jpeg?fit=1000%2C662\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusdt\"],\"dateCreated\":\"2022-11-21T17:51:35Z\",\"datePublished\":\"2022-11-21T17:51:35Z\",\"dateModified\":\"2024-06-11T14:28:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/ethereum-price.jpeg?fit=1000%2C662","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/509593"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=509593"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/509593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/508153"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=509593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=509593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=509593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}