One Of The Accounts On FTX Sends 5,000 Ethereum (ETH) To Another Crypto Wallet

The owner of an FTX account holding hundreds of thousands of ETH reportedly moved 5,000 coins. (Photo; Doc. Coingape)

JAKARTA - Interesting news comes from the crypto world. This time one of the crypto wallets holding around 180,735 ETH coins reportedly moved 5,000 ETH to another crypto wallet address. The 5,000 Ethereum (ETH) worth 8.37 million US dollars (IDR 130 billion) was sent in just three hours.

The owner of hundreds of thousands of ETH on the bankrupt crypto exchange FTX is known as the "FTX Accounts Drainer" and currently has 180,735 ETH, which is worth around 302.5 million US dollars or if converted to rupiah it amounts to IDR 4.7 trillion.

The large ETH stash was spread across 13 different addresses on the FTX crypto platform. These large holdings raise questions about the purpose and impact of these entities' moves on the crypto market.

Additionally, there have been important developments in the expected payout ratio for creditor claims against FTX. This ratio jumped from 12% at the beginning of the year to 35% - 40%. This relates to claims worth around 16 billion US dollars (IDR 248 trillion) against FTX and consolidated assets worth around 7 billion US dollars (IDR 108 trillion).

Concerns around transparency have also emerged, with US Congressman Patrick McHenry asking questions of the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, regarding their interactions with FTX and its founder, Sam Bankman-Fried.

In an effort to prepare for the upcoming trial, FTX founder Sam Bankman-Fried has applied to be temporarily released from detention. His legal team argued that this release was necessary to ensure a fair defense. This situation highlights the complexity and challenges faced in the still evolving crypto ecosystem.