The Bahamian government is rumored to have connections with the FTX hacker's dump of 50,000 ETH in exchange for BTC

The domino effects do not seem to end with the FTX exchange crisis as this exchange shows evidence of hacker attacks which drained large amounts of ETH in exchange for BTC.

On the afternoon of November 21 (GMT+7), the ETH price continued to fall, throwing investors into a panic and driving the ETH prices to historic lows. However, the market pressure was not only on ETH; the entire market was shaking as a result. The BTC price dropping below 16k which caused the majority of altcoins’ prices to fall. At the time of writing, in the afternoon of Nov 22, BTC’s price is hovering around 15.78k while ETH has slipped below the $1.1k support level, looping around $US 1099.

ETH dropped significantly after the FTX hacker’s attacks

The hacker was reportedly to start acting right after the FTX exchange filed for Chapter 11 bankruptcy on November 11. Roughly $447 million was stolen from several FTX worldwide and FTX US exchange wallets. The majority of the stolen money was in ETH, making the exploiter the 27th largest whale in ETH.

According to on-chain data, the hacker moved 50,000 ETH to a new address on Sunday before converting it for renBTC (~3500 BTC), a wrapped form of Bitcoin that can function on the Ethereum network. The new wallet then bridged to two wallets on the Bitcoin blockchain. One of the wallets contained 1,070 renBTC and another contained 2,444 renBTC.

#CertiKSkynetAlert 🚨

FTX Wallet Drainer is now the 37th largest holder of ETH

Dropped 10 places after transferring 50,000 ETH to 0x866E this morning 👀

We’re also continuing to see ETH swapped for renBTC in 0x866E

Wallet currently holds ~1127 renBTC and ~19k ETH pic.twitter.com/sPJjtoWwud
— CertiK Alert (@CertiKAlert) November 20,

At the same time, Bahaman Securities and Exchange Commission released a notice claiming that they were trying to move assets from the FTX. It led to many people to believe that the Bahamian government was the black hat hacker standing behind the FTX wallet drainer 1 that drained $447 million from FTX.

Did you see this? Bahamian SEC claims to have (tried to?) "transfer all digital assets" to a digital wallet that they, not FTX, controls. If FTX is the white hat, then isn't the Bahamian govt the black hat?https://t.co/ddbEmx2nyq
— zkSTONKs (@zkSTONKs) November 20,

The contagion seems to be spreading when the crypto lending firm Genesis is reportedly having troubles and may file for bankruptcy. At present, the hacker is reportedly to still possess more than 200,700 Ether in their wallet. It should come as no surprise that if Generis files for bankruptcy and/or the hacker dumps ETH to exchange for BTC, it will trigger another explosion, further down token prices.

Google Maps to revolutionize navigation with Satellite features, eliminating dead zones

East Asia’s Growth Outpaces Global Average Amidst China’s Economic Challenges, Says World Bank

EU Probes Apple, Google and Meta for Potential Violations of New Digital Law

Massive Changes Coming to Google Chrome Threaten to Reshape the Modern Internet

Reddit makes a splash with spectacular stock debut

In a highly anticipated market debut, Reddit stock took off, closing its first day of trading with a staggering 48% surge from its initial public offering (IPO) price of $34 per share. The social media giant’s stock concluded the day at $50.44, propelling its market capitalization to over $8 billion.

Vietnam’s Vingroup Makes Strategic Move with $1.6 Billion Sale of Vincom Retail Stake

In a significant move in Vietnam’s corporate landscape, Vingroup, the country’s largest conglomerate, has completed the sale of a 41.5% stake and other assets in its retail arm, Vincom Retail, for a staggering $1.6 billion. This transaction ranks among the largest mergers and acquisitions (M&A) deals in Vietnam in recent years, underscoring the dynamism of the country’s economy and corporate sector.

NVIDIA and Johnson & Johnson MedTech’s AI Collaboration Revolutionizing Surgery

The integration of artificial intelligence (AI) into various facets of healthcare has revolutionized patient care, and its impact on surgery is poised to be profound. Leveraging AI’s capabilities to connect, analyze, and predict based on operating room data holds the promise of enhancing surgical efficiency and clinical decision-making. Recognizing this potential, NVIDIA has partnered with Johnson & Johnson MedTech to explore new AI capabilities within the realm of surgery, with the goal of advancing the company’s connected digital ecosystem for surgical procedures.

Alphabet-Apple Collaboration Unveiling Gemini AI for iPhone Innovation

Landmark Verdict: $60 Million Penalty Imposed on Mead Johnson in Enfamil Baby Formula Case

Devin AI: Pioneering the future as the first AI software engineer

In the fast-paced world of software development, innovation is the name of the game. Cognition, a leading tech company, has introduced a groundbreaking solution that promises to transform the industry as we know it: Devin AI, the world’s first AI software engineer. Devin AI is not just another tool in the developer’s toolbox; it’s a game-changer that leverages the power of artificial intelligence and machine learning to automate coding tasks and streamline the development process.

Job Interview Red Flags: Phrases to avoid according to a former Google recruiter

When it comes to acing a job interview, there are certain tactics that can help you stand out and impress prospective employers. From showcasing your passion for the role to demonstrating problem-solving skills, there are plenty of strategies to employ. However, it’s equally important to be mindful of phrases that could raise red flags during the interview process.

US Pushes for ByteDance to Sell TikTok, But China Likely to Refuse

The ongoing saga between the United States and ByteDance, the Chinese tech giant behind the popular social media platform TikTok, has taken another turn. With the House approving a bill requiring ByteDance to divest TikTok within roughly six months, the possibility of a forced sale or effective ban looms large.