The address associated with the FTX hack swapped US$48.2 million worth of DAI stablecoins to 37,570 Ether on Tuesday, and became the 35th largest holder of the world’s second-largest cryptocurrency by market capitalization, blockchain security firm PeckShield reported on Twitter, citing Etherscan data.

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Fast facts

  • The address held 228,523.83 Ether, as of 08:30 p.m. in Hong Kong.
  • “The attacker appeared to be panicking, and lost a large amount of their token holdings to slippage,” according to crypto intelligence firm Arkham.
  • The suspicious address also had US$41 million in BNB, US$20 million in frozen PAXG, US$7 million in DAI on BNB Chain, US$4 million in USDT on Avalanche, and US$3.8 million in MATIC, according to Arkham. 
  • ETH lost 0.2% of its value in the past 24 hours, and was trading at US$1,262 at 08:30 p.m. in Hong Kong, according to CoinGecko data.

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