The FTX hacker is now one of the largest Ethereum holders.

The hacker successfully exchanged around 3.9 million BSC-USD for 5,564.83 Ethereum via the Celer Network, cBridge and Stargate Finance.

The hacker who stole funds from the now-bankrupt FTX has emerged as the 35th-largest Ethereum owner with a total of 228,523 ETH worth $284.82 million.

PeckShield, a popular cryptocurrency security firm, revealed that the hacker converted the stolen funds into different transactions.

The company disclosed that someone swapped about 7,420 BNB on BSC for 1,500 ETH, converting $48 million in DAI to 37,000 ETH. The exploiter traded 3,500 BNB for 962,071.43 BSDC USD, 3,500 BNB for 958,560.13 BSC-USD, and 15,000 BNB for 3,899,020.38 BSC-USD.

The exploiter used the Celer Network to bridge about 3.9 million BSC-USD to Ethereum, then to cBridge and Stargate Finance. The hacker changed the tokens for 5.564.83 ETH.

An attack occurred

The hacker stole around $400 million from FTX wallets during the attack. The attack on FTX on the same day it filed for bankruptcy protection may be related.

The attacker used a number of decentralized exchanges to swap the stolen funds. These decentralized cryptocurrency exchanges include CowSwap, UniSwap, and 1inch. However, forensic research from Arkham has revealed that the hacker lost a large amount of the stolen funds while attempting to move them through different chains. The attacker tried to conceal their traces by transferring the assets to other chains.

What is the hacker’s identity?

Earlier this month, Kraken CSO Nick Percoco announced that the hacker’s identity has been revealed. Percoco said on Twitter that the Kraken team knows who is responsible for the attack on FTX.

The tweet says that the hacker is probably an inexperienced insider, and this is presumably based on Mario Nawfal’s post about the hacker.

Kraken is working with law agencies to unravel the hacker’s identity after reports surfaced that the hacker used the cryptocurrency exchange to move the stolen funds.

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