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ETH Tanks 8% Overnight As FTX Hacker Sells Ethereum Holdings

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On Sunday, November 20, reports emerged that the FTX hacker who stole $600 million from the exchange is converting his ETH stash to Bitcoin. Last week, the hacker converted all the stablecoins to Ethereum accumulating $288 million worth of ETH. Citing data from Etherscan, crypto journalist Colin Wu reported: The FTX hacker address (0x59…d32b) is converting a large amount of ETH into BTC. Today, about 30,000 ETH has been exchanged into RenBTC, and 1070 BTC has been transferred to the BTC network.

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