FTX hacker wallets are booming as Ethereum ETFs prepare to debut in the US ScrgruppEn

Nearly a year after the FTX hack led to the loss of $600 million in tokens, on-chain data indicated recent activity in the perpetrator’s wallet, identified as 0x3e957, on Saturday, September 30, 2023. This occurs close to the launch of the ETF-based Ethereum in the United States.

Based on the data on the chain source From Spotonchain, the person responsible for the FTX incident recently activated his address after a long time. The wallet currently holds a significant amount of $16.75 million in ETH tokens.

The data reveals two separate transactions undertaken by the exploiter he moved 2,500 Ethereum, each worth $4 million. Such transfers are often linked to selling activity, which may exert downward pressure on prices and impact small investors. ETH price may take an upward trend soon with the launch of various Ethereum ETFs in the US.

The offering of Ethereum-based ETFs by several companies on October 2, 2023 is another potential factor affecting the price of Ethereum. If all goes according to plan, and the SEC grants accelerated approval for as many as nine ETF products on that date, it could have a big impact.

Related: Valkyrie holds back on purchases of Ethereum futures until ETF launch

At the same time, the imminent risk of a US government shutdown may pose a potential threat to Bitcoin (BTC) prices due to its negative effects on the banking sector.

magazine: Can You Trust Cryptocurrency Exchanges After FTX Crash?

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