WazirX Hacker Converts All Other Altcoins to Ethereum, Is ETF Optimism at Stake?

According to the latest on-chain data, it turns out that the WazirX hacker has converted all the stolen altcoins into Ethereum (ETH). This development comes as the Ethereum ETF spot is set to go live in four days.

WazirX Hacker Swaps Altcoins for Ethereum

On-chain data provider Spot on Chain reported that the total Ethereum holdings of WazirX Operator climbed to 59,097 ETH, valued at $201 million. This includes:

• 15,298 ETH ($52 million) stolen directly from the exchange.
• 43,799 ETH ($149 million) obtained by liquidating various assets, including 5.43 trillion SHIB ($90.2 million), 20.5 million MATIC ($10.2 million), and 640.27 billion PEPE ($7.48 million).

According to Spot on Chain, the exploiter has not made any further moves with these ETH holdings. Interestingly, the exploiter still holds between $12 million and $15 million worth of other altcoins, including CHR, CELR, OOKI, and FRONT.

It seems that hacker WazirX is also betting on the next Ethereum Price Ethereum price has surged as Ether spot ETFs go live for trading next week. While the rest of the altcoins saw a major price correction following the exploit, Ethereum remained stable around $3,400.

THURSDAY, Shiba Inu crashed more than 10% amid massive sales from the hacker.

Read also : Over 5 Trillion SHIB Lossed From Indian Stock Exchange Following Hack

Ethereum Price Evolution Ahead

Ethereum Investors Remain Highly Enthusiastic Ahead of Approval Ethereum Spot ETF ETH price has already jumped 10% in the past week, amid a general market rally, to reach $3,500. Market analysts predict that ETH will reach $4,000 and beyond in the weeks following the ETF launch.

Ethereum’s technical chart setup also looks bullish at this point. According to analyst Income Sharks, ETH could see a slight pullback to retest the trendline before resuming a strong uptrend ahead.

Read also : Is the Ethereum ETF launch a “Sell the News” event like the Bitcoin ETF?

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