The person or entity that drained FTX’s wallets after the collapsing exchange filed for bankruptcy has continued to move the funds around.
Although the Bahamas’ authorities claimed it siphoned the funds, the suspicious transactions are raising concerns in the crypto space.
The wallet with the title “FTX drainer” started moving funds during the weekend, as Cryptoforpidgin reported.
Today saw a new wave of transactions.
The drainer made a few initial transfers to another wallet, ending with “d68ada.”
They moved about 15,000 ETH, valued at over $16,000 at today’s prices.
The asset receiver began swapping the funds for wrapped bitcoin ( WBTC or renBTW) on Uniswap.
While Other transactions saw the trading of ETH for sBTC on Synthetix.
At the moment, the wallet with the title “FTX Account Drainer” is left with just under 186K ETH, valued at $210 million.
These suspicious transactions is coming days after the Bahamas’ securities regulator claimed it seized the assets from FTX after the exchange filed for Chapter 11 bankruptcy.
While the Commission said it did it to protect customers and creditors, these transfers are making the claims controversial.
Meanwhile, the movements have put negative pressure on ETH, which lost over 5% of value over the past 24 hours, and now struggles to maintain above $1,100 value.