On Nov. 20, the wallet known as “FTX Accounts Drainer” transferred roughly 50,000 ethereum out of the wallet.
) on the Ethereum blockchain. The “FTX Accounts Drainer’s” identity is currently unknown as some believe it’s a malicious entity, others believe it’s a former FTX executive, and some people believe it may be a white hat hacker.
The entity’s other address, which holds over 100 ERC20 tokens, has remained untouched for a week now and it’s worth roughly $189 million. Choosing to offload through Ren’s bitcoin gateway indicates that the user wants to get bitcoin in exchange for the ether. Using Ren instead of swapping into WBTC was likely chosen because WBTC is managed by Bitgo.
The Renvm protocol is more decentralized as it can mint tokens that represent non-Ethereum-based cryptocurrencies. While tokenized
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