FTX hacker’s wallet stirs as Ethereum ETFs prepare for US debut

Almost a year after the FTX hack of $600 million in tokens, on-chain data revealed recent activity in the perpetrator’s wallet, identified as 0x3e957, on Saturday, Sept. 30, 2023. This is occurring closely to the launch of Ethereum-based ETF in the United States.

Based on on-chain data from Spot On Chain, the exploiter recently activated their address after a prolonged period. Presently, the wallet contains a substantial sum of $16.75 million of Ether (ETH).

FTX Exploiter 0x3e957 just moved 2500 $ETH ($4.2M) to new addresses

This is the first time the address has been active since the hack 10 months ago. The address still holds 12.5K $ETH

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https://t.co/7LnmryLvhL pic.twitter.com/yl2NnMwaqW

— Spot On Chain (@spotonchain) September 30, 2023

The data reveals two transactions where the exploiter moved 2,500 ETH, each valued at $4 million. Transfers like this are often linked to selling activity, potentially impacting the price of ETH and affecting smaller investors. Additionally, the price of ETH could enter a bullish trend soon with the launch of the various Ethereum exchange-traded funds (ETFs) in the United States.

The introduction of Ethereum-based ETFs by several companies on October 2, 2023, marks another potential factor influencing ETH’s price. If all goes according to plan, and the U.S. Securities and Exchange Commission (SEC) grants accelerated approval for up to nine ETF products on that date, it could have a significant impact.

Related: Valkyrie backtracks on Ether futures contract purchases until ETF launch

Simultaneously, the looming risk of a U.S. government shutdown may pose a potential threat to Bitcoin (BTC) prices due to its adverse effects on the banking sector.

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