Fast forward almost a full year since the tumultuous FTX hack that resulted in the pilfering of a colossal $600 million worth of tokens. Recent on-chain data has illuminated intriguing activities within the wrongdoer’s wallet, meticulously identified as 0x3e957. This revelation emerged on the memorable Saturday of September 30, 2023. It’s worth noting that this development occurs in close proximity to the imminent launch of an Ethereum-based ETF within the United States.
Our insights, gleaned from on-chain data provided by the esteemed Spot On Chain, indicate that the malefactor has recently rekindled activity within their designated address. As it stands, the wallet in question houses a substantial treasure trove, amounting to a princely sum of $16.75 million in Ether.
Our analysis of the data discloses two transactions in which the malefactor orchestrated the movement of 2,500 ETH, each carrying a staggering valuation of $4 million. Such transfers often raise the specter of potential selling activity, casting shadows of uncertainty upon the price of ETH and potentially impacting smaller investors. Additionally, the price of ETH stands poised on the precipice of a potential bullish surge, heralding the advent of various Ethereum exchange-traded funds (ETFs) in the United States.
A multitude of companies eagerly await the verdict of the U.S. Securities and Exchange Commission (SEC). This decision, slated for October 2, may potentially usher in accelerated approval for a grand total of nine ETF products, setting the stage for a seismic shift in the crypto landscape.
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