As per the newest on-chain knowledge, it seems that the WazirX hacker has transformed all the stolen altcoins into Ethereum (ETH). This improvement comes simply because the spot Ethereum ETF is prone to go reside 4 days from now.
WazirX Hacker Swaps Alts for Ethereum
On-chain knowledge supplier Spot on Chain reported that the full Ethereum holdings of the WazirX exploiter have surged to 59,097 ETH, valued at $201 million. This consists of:
- 15,298 ETH ($52 million) stolen instantly from the change.
- 43,799 ETH ($149 million) obtained by liquidating numerous belongings, notably 5.43 trillion SHIB ($90.2 million), 20.5 million MATIC ($10.2 million), and 640.27 billion PEPE ($7.48 million).
As per Spot on Chain, the exploited hasn’t made any additional strikes with these ETH holdings. Interstingly, the exploiter nonetheless holds $12-$15 million value of different altcoins together with CHR, CELR, OOKI, and FRONT.
🔴 The full $ETH holding of #WazirX exploiter has risen to 59,097 $ETH ($201M)!
Amongst these tokens:
➡️ 15,298 $ETH ($52M) was stolen instantly from the change;
➡️ 43,799 $ETH ($149M) was acquired by dumping numerous belongings, notably 5.43T $SHIB ($90.2M), 20.5M $MATIC ($10.2M),… https://t.co/v1sGzL6m7r pic.twitter.com/x23kGBsqyd— Spot On Chain (@spotonchain) July 19, 2024
It appears that evidently the WazirX hacker can also be betting on the upcoming Ethereum worth rally because the spot Ether ETFs will go reside for buying and selling subsequent week. Whereas the remainder of the altcoins noticed a serious worth correction after the exploit, Ethereum has remained secure buying and selling round $3,400.
On Thursday, Shiba Inu crashed greater than 10% amid the large promoting coming from the hacker.
Additionally Learn: Over 5 Tln SHIB Sacked From Indian Trade Amid Hack
Ethereum Value Motion Forward
The Ethereum buyers stay fairly excited earlier than the approval of the spot Ethereum ETF scheduled subsequent week. During the last week, the ETH worth has already surged by 10% amid the broader market restoration capturing all the way in which to $3,500. Market analysts are predicting ETH to rally to $4,000 and past within the weeks following the ETF launch.
The technical chart setup for Ethereum additionally appears bullish at this stage. As per analyst Earnings Sharks, ETH can see a minor pullback to retest the trendline earlier than resuming a robust uptrend forward.
$ETH – Trying good. That would have been it for the pullback or we may nonetheless go decrease and that’d nonetheless be bullish. Lastly have the double supertrends flipped bullish and OBV is near giving the official ship off sign. pic.twitter.com/Nnekh4TKVP
— IncomeSharks (@IncomeSharks) July 18, 2024
Additionally Learn: Is Ethereum ETF Launch “Promote The Information” Occasion Like Bitcoin ETF?
The offered content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.
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