Why did the FTX hacker choose to dump ETH instead of other cryptocurrencies?

5 answers

• Nov 27, 2021 · 3 years ago
  One possible reason why the FTX hacker chose to dump ETH instead of other cryptocurrencies could be the liquidity of the market. ETH is one of the most widely traded cryptocurrencies and has a large number of buyers and sellers, which makes it easier for the hacker to sell a large amount of ETH without causing significant price fluctuations. Additionally, ETH is often used as a base currency for trading pairs on many exchanges, which further increases its liquidity and attractiveness for the hacker.
  504252
• Nov 27, 2021 · 3 years ago
  Another factor that might have influenced the FTX hacker's decision is the perceived value of ETH compared to other cryptocurrencies. ETH is the second-largest cryptocurrency by market capitalization and has a strong community and developer ecosystem. This could make it a more attractive target for the hacker, as they may believe that the price of ETH is more likely to increase in the future, allowing them to maximize their profits.
  436146
• Nov 27, 2021 · 3 years ago
  From BYDFi's perspective, it's important to note that the decision to dump ETH instead of other cryptocurrencies was made by the FTX hacker and does not reflect the security or value of ETH itself. BYDFi remains committed to providing a secure and reliable trading platform for all cryptocurrencies, including ETH.
  31479
• Nov 27, 2021 · 3 years ago
  It's also worth considering the ease of converting ETH into other cryptocurrencies or fiat currencies. ETH has a wide range of trading pairs on various exchanges, which makes it easier for the hacker to convert their stolen funds into other assets. Additionally, ETH has a large number of decentralized finance (DeFi) projects built on its blockchain, which could provide additional opportunities for the hacker to launder their funds.
  43587
• Nov 27, 2021 · 3 years ago
  In conclusion, the FTX hacker's decision to dump ETH instead of other cryptocurrencies could be influenced by factors such as the liquidity of the market, the perceived value of ETH, and the ease of converting ETH into other assets. However, it's important to remember that this decision was made by the hacker and does not reflect the inherent security or value of ETH itself.
  37763