last minute! Critical Development in FTX Hack Shock: The Popular Altcoin Is Losing Blood!
As the effects of the FTX crisis continue, rumors of a domino effect are gaining momentum. In addition, developments related to the FTX hack continue to be a cause for concern.
Ethereum Continues to Fall!
Yesterday, on chain data revealed that more than 30,000 ETH assets were sold from the wallet linked to the FTX hack and most of them were converted to Bitcoin (BTC). As a result of this selling pressure, Ethereum fell by 7% to $ 1,140. ETH, which started the new week under selling pressure, is losing momentum again and trading at $ 1,113 as of now. Today, a different development is taking place. FTX Hacker continues to sell ETH for renBTC from another address. The price of renBTC, an Ethereum-based token, is fixed at 1 BTC. In short, RENBTC’s goal is to make Bitcoin usable on the Ethereum network. FTX hacker, 35. he had become the largest Ethereum whale.
After FTX filed for bankruptcy, close to $ 600 million worth of crypto money was stolen from the platform, which was attacked by cyberattacks. Current on chain data shows that most of the stolen ETH has been converted to Bitcoin. Last week, hackers converted the stolen stablecoins to Ethereum. The unrest caused by FTX continues to affect the cryptocurrency market. According to experts, the company’s debt of over $ 3 billion could create a domino effect in the industry. This means the bankruptcy of different projects. The news that BlockFi is preparing to file for bankruptcy continues to cause concern. In addition, Genesis, which provides liquidity to corporate companies, announced that it had suspended withdrawal transactions related to the credit section, which was described as the first sign of the domino effect. The current situation has led to a trust problem in crypto money, while rumors of regulation have gained momentum.
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